Oil Ends Nearly $2 Down
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Oil prices slid nearly $2 a barrel to  end at 7-week lows on Tuesday, as growing signs of ample supply  eased concerns over fuel stocks for the northern winter.
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London: Oil prices hovered below recent record highs today after intervention by the Norwegian government to end industrial strife in the worldâs third-biggest oil exporter took some heat out of feverish markets.
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Oil slid almost $2 to a six-week low below $89 a barrel on Monday, as stock markets plummeted and concerns mounted over an economic slow-down led by top consumer the United States.
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Though oil prices have eased slightly, they remain close to record high points approaching $55 a barrel. World oil prices have more than doubled from about $20 a barrel in New York at the start
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Oil prices fell to around $68 a barrel   on Wednesday, just off a three and a half month low struck the   previous session and above key support levels that, if broken,   could trigger a deeper selloff.
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The weeklong slide in the price of oil from a record of almost $50 ends with a slight rise in New York and London.
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Oil fell $2 a barrel on Friday from its $100 lifetime high as gloomy U.S. jobs data heightened concern about a slowdown in the world's top consumer that could dampen fuel demand.
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Oil prices fell sharply yesterday after briefly passing $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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LONDON - World oil prices eased slightly yesterday but remained close to record high points near 55 dollars a barrel as traders fretted about low inventories of US heating fuel heading into the northern winter.
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U.S. oil prices slid more than half a  dollar to below $44 a barrel on Monday as unusually mild winter  weather in the United States curtailed demand.
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WASHINGTON -- Oil prices fell sharply yesterday after briefly surpassing $54 US a barrel despite nagging concerns that the global supply buffer is too thin to handle a significant disruption of output.
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U.S. crude surged $2 to above $76 a  barrel on Monday as BP began shutting an Alaskan field that  pumps 8 percent of U.S. oil and anxiety over the Middle East,  supplier of almost a third of the world's oil, ran high.
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OIL prices were easing back from their recent record highs yesterday as the cost of a barrel dipped below the $46 mark.
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Financial markets breathed a sigh of relief last week as the price of oil eased from the record $50-a-barrel level. Drivers will be next to rejoice when gas prices come down, as expected, once the Labor Day weekend ends.
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Blue chips ended lower yesterday as a drop in oil prices hit energy shares and buyers took profits after a series of record-high closes.
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Oil prices ended lower on Tuesday on  signs that high energy costs are slowing the economic growth  that has fueled this year's sharp increase in world oil  consumption.
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Oil prices touched 2-month lows near  $45 a barrel on Monday before taking back most of their losses,  but the downward trend knocked energy company stocks lower and  U.S. stock indexes ended little changed. A rise in Microsoft  shares helped boost the technology sector.