Crude prices make a retreat
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WASHINGTON -- Oil futures retreated below $50 a barrel yesterday, though analysts said there is enough uncertainty about geopolitics and weather -- and the industry's ability to quickly boost crude output -- to keep prices from plummeting any time soon.
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Retail gasoline prices continued their slow retreat from their recent highs yesterday , but crude oil and gas futures advanced as concerns about refinery capacity persisted.
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Crude oil prices dropped below $60 a barrel for the first time in six months on Monday before rebounding a bit.
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Crude futures prices fell slightly on Friday, capping off a 5 percent decline from a week ago, as worries about low winter fuel inventories dissipate amid rising oil supplies.
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The price of crude oil fell for a third straight day on Friday, sliding back toward the US$50 mark after a surprising midweek US petroleum stocks report and China&#39;s latest moves to cool its economy.
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Oil prices eased on Monday as top world exporter Saudi Arabia slashed prices for its crude sales to the United States and Europe in an effort to shift the large volumes it is offering to cool world markets.
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Crude oil prices have dipped in New York, sliding as much as two dollars to around $50 a barrel. That&#39;s extending declines seen last week despite concerns that a planned strike in Nigeria could affect output.
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Oil prices eased from new highs on Friday as dealers pocketed profits from a long record-breaking run after escalating violence in Iraq took US crude close to $50 a barrel.
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Crude futures prices fell yesterday, briefly sinking below $49 US a barrel, as the US supply of oil grows and traders said institutional investors shifted their capital from commodities to equities.
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The crude oil price, based on the average price package of seven market-monitored crudes, fell to 38.89 dollars a barrel last week, down 2.46 dollars of the price in the previous
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The price of crude oil slips back from a record of more than $80 a barrel, but worries about supply persist.
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Oil retreated below $89 on Wednesday after making a nervous recovery as an emergency U.S. interest rate cut halted a global financial market sell-off but failed to halt recession fears in the world's top oil consumer.
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NEW YORK -- A decline in the nation's inventory of heating oil catapulted crude futures prices toward $55 a barrel yesterday, providing the latest jolt to a market already rattled by the world's tight supply of oil, strong demand, and the possibility of output problems in several producing nations.
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Oil prices eased on Monday as top world  exporter Saudi Arabia slashed prices for its crude sales to the  United States and Europe in an effort to shift the large  volumes it is offering to cool world markets.
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Asian shares mostly eased on Monday with South Korea retreating from record highs on fears the government may move to cool the market, while Brent crude was about $1 away from its highest level due to supply worries.
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NEW YORK Crude oil prices are falling sharply as traders anticipate warmer weather in the US later in the week. Also pulling futures prices down are the weekend snowstorms in the Midwest that kept motorists off the road and planes grounded.
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Oil prices have fallen as much as $16   from their peaks, their steepest reversal in 16 years, in a   correction that traders say may be harder to shake off than   past setbacks in the market's four-year rally.