Update 5: Oil Prices Slide, Despite Iraq Export Drop
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Oil prices fell for a fifth consecutive day Thursday despite a sharp drop in Iraqi exports after pipelines were sabotaged - evidence that the bull market may have lost some steam.
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Oil prices slid to a five-week low on Friday, continuing a downturn that has slashed almost 13 percent from record highs as rising stockpiles have eased worries of a winter supply crunch.
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Oil prices continue to slide amid fears that a US recession will weaken global demand for crude.
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World oil prices fell again on Tuesday  as Iraq restored oil exports and hedge funds continued the rush  to take profits from record highs.
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NEW YORK, December 23  - Crude oil prices declined for the second consecutive day today, trading near $44 per barrel, amidst reports of another pipeline attack in Iraq and a virtual re-nationalization of Russiaâs oil giant, Yukos.
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London Brent crude fell briefly through  $40 on Thursday for the first time in three weeks, extending  heavy losses to a fifth session as renewed exports from Iraq  and higher-than-expected U.S. gasoline inventories encouraged  big-money funds to take profits.
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Oil prices dipped below $46 on Tuesday  in a third day of falls as a more optimistic Iraq export  picture helped unwind some of the supply worries that have  lifted the market to historic levels.
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NEW YORK : World oil prices firmed after a five-session drop amid renewed concerns over unrest in Iraq despite a ceasefire in its holy city of Najaf.
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U.S. oil prices fell below $43 on  Monday on continued profit-taking as producer-group OPEC eyed  increases in the coming months in its tight spare capacity,  countering worries over stumbling Iraqi oil exports.
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Oil prices slipped Thursday but the decline was tempered by concerns about U.S. refinery capacity and worries that supply disruptions could result if Turkey attacks Kurdish rebels in northern Iraq.
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Oil prices held just below the $47 mark on Monday as Iraq resumed exports from both its northern and southern outlets after lengthy disruption, despite fierce fighting in the holy city of Najaf.
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Oil futures dropped by nearly $1 per barrel Monday despite pipeline sabotage in Iraq that has delayed exports from a southern port - reinforcing the view among traders that prices had risen too fast earlier this summer.
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Oil prices fell sharply to $45 on  Tuesday, extending losses to a third day as a more optimistic  Iraq export picture helped unwind some of the supply worries  that have lifted the market to historic levels.
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NEW YORK - Oil prices made an about face Friday, falling below $48 a barrel, as tensions between U.S. forces and rebel fighters in Iraq eased, raising hopes that attacks against the country's oil infrastructure would subside...
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NEW YORK - Oil prices fell for the fifth day in a row on Thursday after word of a peace deal in the embattled Iraqi city of Najaf raised hopes of more reliable oil shipments from the energy-rich country and encouraged a run of profit-taking by big money
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World oil prices skidded on Monday as Iraq pumped oil through its southern pipelines and Russia vowed to step up exports, but analysts said the days of high prices were not yet over.
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Light crude for October delivery dropped 68 cents to settle at $43.31 per barrel on the New York Mercantile Exchange. Oil prices slid for much of last week despite confusion about the status of Iraqi exports.