Oil slides on supply fears
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NEW YORK: Oil prices extended a streak of losses last night as dealers anticipated that strong Opec output and recovering production in the US would boost lean stockpiles in time for peak winter heating demand.
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Oil prices eased on Thursday but held near $61.50 a barrel after a climb the previous day on unexpectedly large falls in U.S. fuel inventories.
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Oil futures skidded lower Thursday on growing concerns that a U.S. economic slowdown is imminent and will depress demand.
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Crude oil futures prices dropped below $51 a barrel on Thursday as supply concerns ahead of the Northern Hemisphere winter eased after an unexpectedly high rise in US inventories.
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Singapore - Crude oil futures slid further on Thursday, as concerns over heating oil supplies ahead of a cold Northern Hemisphere winter eased because of a rise in US crude stocks.
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Oil prices fell on Thursday on expectations that the United States might loan some crude to U.S. refiners from its strategic petroleum reserve after weather-related disruptions led to a big dip in supplies.
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Oil prices continued their recent slide as optimism that supply would hold up this winter had more traders shifting money out of energy markets.
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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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Oil prices extended a two-day slide on  Thursday that has sliced more than 8 percent from the cost of a  barrel, as rising U.S. crude supplies eased fears of a winter  fuel crunch and China moved to slow its runaway economic  growth.
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Oil prices slid more than a dollar to  7-week lows on Tuesday as growing signs of ample supply ease  concerns over fuel stocks for the northern winter.
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Oil prices slid more than a dollar to  7-week lows on Tuesday as growing signs of ample supply eased  concerns over fuel stocks for the northern winter.
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Oil prices slid to 7-week lows on  Tuesday as growing signs of ample supply eased concerns over  fuel stocks for the northern winter.
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Oil fell toward $61 Tuesday on robust   U.S. inventories ahead of the winter heating season, but   producer group OPEC said the price slide from peaks this summer   had gone far enough.
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Oil prices fell $1 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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Oil prices continued falling on Thursday after an unexpectedly large rise in U.S. crude inventories spurred profit-taking from record highs.
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Oil slid towards $76 on Monday, as traders waited to see if top exporter Saudi Arabia will continue to back steady OPEC supply curbs, after weak U.S. jobs data raised concerns of a recession that could hit demand.
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Oil prices continued falling on Thursday after an unexpectedly large rise in US crude inventories spurred profit-taking from record highs.