Crude Oil Drops After Gains in US Stocks, Warmer Weather
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Crude oil futures extended their decline, after falling 3 percent yesterday when a US report showed an unexpected rise in distillate and crude supplies.
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Crude oil futures dropped more than US$1 to hit $43 at midday today in a correction of yesterday&#39;s surge. Prices rose slightly at first as traders sought to build on yesterday&#39;s gains but buying quickly gave way to a wave of selling.
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Crude oil prices fell by more than $3 yesterday after a federal government report showed larger-than-expected heating oil supplies in the US, easing fears of a shortage this winter.
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Oil futures steadied Thursday after a jump that reflected a drop in US crude and heating oil stocks amid rising demand fueled by cold weather spreading across the US Northeast and Midwest.
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Crude oil futures fell, extending last week&#39;s 4 percent decline, on speculation rising US oil supplies will be sufficient to meet winter fuel demand.
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CRUDE oil futures fell yesterday after the American government reported a slight increase in the US inventory of crude. The supply of distillate fuel, which includes heating oil, also increased, following
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SINGAPORE : Crude oil prices fell in Asian trading on Monday after a three-day Christmas break as investors digested further the surprise rise in US petroleum stocks.
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NEW YORK -- Oil prices pulled back after briefly surpassing $62 a barrel yesterday, as traders regarded forecasts of warm US weather as an opportunity to take some profits.
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Crude oil prices fell slightly Tuesday even as the expectation of another cold snap increased traders&#39; concerns about heating-oil supply.
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Oil prices eased on Monday in  profit-taking on heating oil from sharp gains last week sparked  by concerns over low supplies of winter heating fuels.
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Oil prices fell on Wednesday after U.S.  stocks data showed a larger-than-expected rise in heating fuel  supplies as mild winter temperatures suppressed demand in the  United States.
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Crude oil prices fell Monday as the US supply of oil grew and some institutional investors shiftedtheir capital from commodities to equities.
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Oil prices fell on Tuesday as an  expected increase in U.S. heating fuel supplies eased concerns  over an inventory crunch should this winter's weather prove  colder than normal.
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US oil prices slid half a dollar to below $44 a barrel on Monday as warmer-than-expected weather in the United States was expected to curtail demand.
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Oil prices fell 5 percent on Monday as forecasts of a return to mild winter weather in the US Northeast eased worries about heating oil suppplies.
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U.S. stocks rose on Thursday as crude oil prices fell below $62 a barrel and a drop in weekly claims for jobless benefits suggested a healthy labor market a day before a key unemployment report.
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Crude oil rose almost 2 percent on speculation that US inventories will fall in coming weeks as temperatures drop. Supply gains may cease as cold weather moves into the eastern US next month.