Oil Extends Two-Day Fall as China&#39;s Rate Rise May Cut Demand
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Crude oil futures fell in New York, extending the biggest two-day decline in 19 months, on concern China&#39;s first interest-rate increase in nine years will slow demand in the world&#39;s second-largest oil market.
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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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Oil prices fell nearly 2 percent on  Wednesday after a U.S. government report showed a surprisingly  large increase in crude supply last week.
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Oil prices bounced higher yesterday following two days of sharp declines that came on the heels of rising inventories of crude in the United States and a move by China to cool its economy.
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Oil fell more than two dollars on Tuesday, as profit-taking pulled the market down from record highs that were fuelled by a Mexican supply shut-down and a weak dollar.
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The price of crude oil fell for a third straight day today, brought down from a midweek record high by news of higher-than-expected US stocks and by Chinaâs latest moves to cool its economy.
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Deutsche B&ouml;rse extended its losses into a second day as investors took profits in the face of record oil prices and fears of slowing economic growth.
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Oil fell nearly $2 a barrel on Wednesday after a U.S. government report showed larger-than-expected increases in crude and gasoline stockpiles in the world's biggest consumer.
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Oil prices stepped back from this  week's eight percent rout on Friday, holding well above $50 a  barrel as analysts said it would take more than China's mild  interest rate rise to stem demand growth from the world's  second largest user.
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Oil dropped more than $2 a barrel on Friday, joining a slump across the commodities markets amid concern higher interest rates could slow economic growth and cool demand.
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Oil slid more than a dollar on  Thursday, resuming a two-week decline that has cut 15 percent  from prices, as rising crude inventories have eased concerns of  a winter fuel crunch.
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Oil prices tumbled again Thursday as traders anticipated lower demand from economic powerhouse China on the heels of an unexpectedly large rise in US crude inventories.
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Oil prices fell on Monday, extending the  previous session&#39;s decline, after remarks by oil producer group  OPEC that it was concerned about the potential impact of high  oil prices on the global economy.
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Crude oil futures may fall on increased global production and speculation that demand growth is slowing, a survey has shown. Crude oil for December delivery fell US$2.
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Oil steadied on Thursday after  Wednesday's 5 percent retreat from record highs, as traders  concluded that China's surprise interest rate rise would not do  much to dampen fuel demand growth.
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If China wants to slow the rate of economic growth and oil demand slows because of that, &quot;then the oil prices at these levels are too high,&quot; he said.
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Oil prices simmered near &#36;55 a barrel on Friday on rising fears of a winter fuel supply crunch and robust but slowing economic growth in China, the world's number two user.