3pc leaks from oil price after new spike
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Oil prices have fallen 3 per cent after setting record highs above $US55 a barrel, as dealers took profits on signs that energy costs are hitting economic growth.
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US gasoline prices fell about 3 cents in the past two weeks to an average of $2.01 per gallon as worldwide supplies of crude oil increased, an industry analyst said yesterday.
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: The price of crude oil fell for a third straight day today, heading toward the US$50 mark on an encouraging midweek US petroleum stocks report and China&#39;s latest moves to cool its economy.
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Crude oil prices rose for a third day in four yesterday amid concern about the loss of production and possible damage from Hurricane Ivan, which passed just east of Gulf of Mexico production platforms.
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Oil surged above $70 on Monday on news a cyclone was headed toward the oil-producing Arabian peninsula with the potential to disrupt shipping and output.
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Oil prices jumped to fresh historic highs on Monday, breaching 93 dollars for the first time on mounting concerns about tight energy supplies worldwide, analysts said.
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new yorkâCrude oil surged to a four-week high yesterday, bringing the gain this week to almost $3 (US) a barrel, on concern shutdowns caused by Hurricane Ivan will further reduce US inventories.
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Oil prices have fallen sharply after briefly surpassing $54 a barrel amid nagging concerns in the market that the global supply buffer is too thin to handle a significant output disruption.
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Oil prices plunged by $3.64 a barrel Wednesday-- a drop of more than 7 percent -- after the release of government data that showed a larger than expected increase in fuel supplies.
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Crude oil futures tumbled more than 3 dollars Wednesday after a government report showed an increase in US heating oil supplies. On the New York Mercantile Exchange, crude oil
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Oil prices hit a new three-month low on Wednesday as mild winter weather in the United States and expectations of a rise in heating fuel stocks kept downward pressure on the market.
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Oil prices climbed above $47 a barrel today, after figures showed supplies in the U.S. were down for a third consecutive week.
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Oil prices plunged more than $3 a barrel Wednesday -- the largest single-day decline in more than three years -- after the U.S. government reported large increases in the nation's fuel supply, easing fears of a supply crunch as winter approaches.
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LONDON : Oil prices slid for a third day running as speculators banked profits ahead of next week&#39;s US presidential election amid easing supply fears and China&#39;s move to hike interest rates, analysts said.
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Tearaway world oil prices, toppling records and straining wallets, present a new economic menace barely three months before the US presidential elections.
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Oil prices jumped more than 3 percent  on Tuesday to a one-month high of $99 a barrel as expectations  that OPEC will keep production tight spurred supply concerns.
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Oil prices fell for a third day on Tuesday on expectations of rising fuel stockpiles in the United States and after OPEC vowed to pump more crude if needed.