Oil Slides Under $48, Fuel Supplies Build
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Oil prices fell more than $1.50, off  three percent, on Wednesday after a larger-than-expected build  in U.S. heating and diesel stocks soothed worries about a  winter fuel deficit.
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Oil prices slid more than $3.50 a barrel  on Wednesday, the biggest drop since September 2001, as a  larger-than-expected build in U.S. heating stocks soothed  worries about a winter fuel deficit.
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Crude oil futures prices briefly dipped below $48 a barrel Tuesday on expectations that US oil supplies will continue to grow and that heating oil inventories will be adequate this winter.
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Oil prices dropped to 2-month lows on  Monday, with U.S. crude falling near $45 a barrel before paring  losses in late trade, as growing fuel stocks in the United  States eased fears of a winter supply crunch.
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Oil prices sank more than 2 percent and fell below $44 a barrel Wednesday, extending their recent slide after a government report showed domestic gasoline supplies had not fallen last week, as Wall Street had expected last week.
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Oil prices slipped on Monday but held above &#36;49 a barrel as easing concerns about a winter supply crunch pulled the market further away from record highs set two weeks ago.
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NEW YORK -- Oil prices plummeted below $44 a barrel yesterday, sinking for the fourth consecutive day, as supply fears receded, gasoline futures plunged and profit- taking took over.
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The price of oil jumped above $48 a barrel Monday on concerns about tight winter fuel supplies mixed with speculation that OPEC may scale back output.
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Oil prices slid on Thursday after a  bigger-than-expected rise in U.S. fuel inventories soothed some  worries of a winter squeeze, but the fall was limited by an  upcoming OPEC meeting and Iraqi elections.
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Oil prices bounced nearly $2 to $44 a barrel yesterday after government and industry data showed a sharp drop last week in the nation's supply -- a surprise to most traders, who expected inventories to be steady or grow slightly.
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The price of oil sank for the fourth consecutive day yesterday amid profit taking and easing concerns about supply, dipping below $44 US a week after it threatened to hit $50 US.
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NEW YORK Oil prices have skidded below 48 dollars a barrel after the US government reported increases in the nation&#39;s supply of crude oil and distillate fuel, which includes heating oil.
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Oil prices steadied above $48 a  barrel on Wednesday as a cold snap in the U.S. Northeast  overshadowed an expected build in crude and product  inventories.
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Oil prices tumbled again on Monday, sliding to an 8-week low under &#36;46 a barrel, as growing fuel stocks in the United States eased fears of a winter supply crunch.
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U.S. oil prices hovered just below &#36;50 a barrel on Tuesday, holding recent gains on a rash of crude supply outages and fears over thin heating oil tanks.
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Oil prices fell to just above &#36;48 on Friday after the U.S. government said it would lend refiners crude from the Strategic Petroleum Reserve (SPR), but traders deemed the loan too small to have a lasting impact.
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Oil prices came within a whisker of  retesting a near six-month low of $63 on Friday as supply  worries eased, knocking gold to three-month lows and dragging  resource shares such as Japan's INPEX lower.