Oil Futures Retreat From $90 Record
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Many analysts expect the declines to be temporary and believe futures will continue their assault on price records in the days ahead.
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Crude oil prices fell by $2.01 to $49.75 per barrel in morning trading on the New York Mercantile Exchange. Oil prices retreated from record closing prices last week, after the US government
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Oil prices receded on Friday as dealers took profits from a record rally over $90 a barrel that was spurred on by winter supply worries and the weakening U.S. dollar.
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Singapore: Crude futures held steady below $45 a barrel today after steep overnight falls that came as the US Government reported a surprise build in stocks of oil and distillates.
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Oil fell on Thursday as traders took profits from a record rally that had pushed oil to the psychological $100 a barrel mark two days in a row -- a level that has raised a red flag over economic growth.
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Oil futures shot to a new record above $100 for the first time since Jan. 3 as investors bet that crude prices will keep climbing despite evidence of plentiful supplies and falling demand.
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Crude oil futures continued to retreat from record levels of more than $54 US a barrel Wednesday as traders nervously monitored developments in strike-hit Nigeria and recovery efforts in the Gulf of Mexico.
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Oil eases towards $79 a barrel on Friday, as a hurricane subsided in the Gulf of Mexico, though prices held near the previous day's record high on supply worries ahead of peak winter demand.
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Crude oil futures in New York gained Thursday for the ninth time in 10 days, but again failed to settle above $50, as questions remained about the progress of truce talks in Nigeria and the recovery of production in the Gulf of Mexico.
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Oil prices dipped on Thursday but  held near $80 a barrel and the previous day&#39;s record high, as  dealers watched a tropical storm in the Gulf of Mexico after a  sharp fall in U.S. crude stocks.
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Oil prices dipped on Thursday after  leaping to a lifetime high of $100 the day before amid a  new-year rush of investor demand fuelled by expectations of  thinning U.S. stockpiles, the falling U.S. dollar and  geopolitical risks.
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SAN FRANCISCO (CBS.MW) -- Crude-oil futures fell under $52 for the first time in more than two weeks Thursday, reflecting concerns that China&#39;s first interest-rate hike in nine years will ease energy demand.
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Crude futures sold off sharply for a second day in row Thursday, falling below $44 a barrel, as traders focused on rising fuel supplies and the lack of cold weather. The drop to two-month lows triggered an additional wave of technical and speculative selling, traders said.
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As crude oil futures head toward $50 per barrel, stocks are in retreat. The Dow Jones Industrial Average is down 31 points in today&#39;s early going.
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Oil prices dipped on Thursday after leaping to a lifetime high of $100 the day before amid a new-year rush of investor demand fuelled by expectations of thinning U.S. stockpiles, the falling U.S. dollar and geopolitical risks.
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Oil prices hit a record high Thursday of more than $90 a barrel after reports indicated that the Organization of Petroleum Exporting Countries has no plans to increase production.
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Benchmark light, sweet crude oil futures for January dropped as much as 93 cents in early trading today in New York to last week&#39;s low of US$42.05 a barrel.