Oil Finishes Week Below $50 Per Barrel
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Crude futures prices fell slightly on Friday, capping off a 5 percent decline from a week ago, as worries about low winter fuel inventories dissipate amid rising oil supplies.
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Oil prices fell further below $50 on Wednesday as a fresh rise in US crude oil inventories outweighed the impact of President Bush&#39;s victory in the US election.
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A boost in US crude and natural gas supplies brought some relief to oil markets Thursday, with crude futures falling below the $50-a-barrel mark.
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The price of oil sank for the fourth consecutive day yesterday amid profit taking and easing concerns about supply, dipping below $44 US a week after it threatened to hit $50 US.
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Oil prices fell sharply last night, taking US crude below $50 ahead of the US presidential election. US light crude dipped as low as $49.
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Red-hot oil prices cooled, easing below 50 dollars a barrel in New York after news of stronger-than-expected US inventories and oil in the United States and diminishing fears of unrest in Nigeria.
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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 fell heavily on Monday, taking US crude below $50 on speculation that a US election win for Senator John Kerry could ease the geopolitical friction that helped fuel this year&#39;s record-breaking rally.
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Oil prices ended above $50 a barrel on  Friday amid concern over possible fighting between rebels and  the military in Nigeria's oil-rich delta region.
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Oil prices eased on Monday after  rebels in Nigeria withdrew a threat to target oil operations,  but lingering concerns over stretched supplies ahead of winter  kept prices close to $50.
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Oil futures retreated below $50 a barrel yesterday, though analysts said there is enough uncertainty about geopolitics and weather -- and the industry&#39;s
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Oil is now down almost 15% in a week. Isn&#39;t this what people were complaining about two weeks ago when oil was marching toward $50 a barrel?
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Oil prices deepened this week's 8  percent rout on Friday, edging nearer $50 a barrel as China's  surprise interest rate rise stirred concerns over demand growth  from the world's second largest energy user.
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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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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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Oil prices charged toward $50 a barrel Monday, and gasoline prices surged to $1.92 a gallon last week, as petroleum output in the Gulf of Mexico returns at a slower-than-expected rate after Hurricane Ivan and geopolitical unrest keeps traders on edge.
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Oil prices rebounded Friday but remained below $50 US a barrel after declining four per cent over the past week due to rising US supplies of crude and natural gas.