Oil falls as profit-taking clips rally
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Oil prices fell on Friday as U.S. economic concerns mounted and traders took profits from a rally this week that sent prices to near record levels. U.S. crude settled down 62 cents at $96 a barrel, after trading as high as $97.92. London Brent settled 90 cents lower at $93.88 a barrel.
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Ed Silliere, vice president of risk management at Energy Merchant in New York, said the downward momentum was due to profit taking, which began after oil prices momentarily broke the $55 a barrel mark, as well as to signs of lower demand for gasoline.
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Oil prices slid on Monday, drifting  toward $90 a barrel as a weak close on Wall Street spurred some  profit taking, although expectations that OPEC will maintain  its production curbs this week limited losses.
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Oil fell more than a dollar towards $89 a barrel on Monday as falling global stock markets amid renewed worries about the health of the global economy spurred profit taking.
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Oil prices fell from record peaks for a  second session on Wednesday as big-money funds took profits  from a searing rally on signs that high commodity prices are  finally starting to dampen demand.
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Oil prices fell sharply from near record  peaks on Wednesday after a larger-than-expected build in U.S.  crude stocks spurred traders to take profits from a fierce  rally.
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Stocks fell sharply on Wednesday after  oil prices climbed above $48 a barrel and investment bank  Morgan Stanley MWD.N reported a decline in quarterly profit,  stirring concern about corporate earnings.
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Oil prices fell heavily from near record  peaks on Wednesday after a sharp build in U.S. crude stocks  spurred traders to take profits from a fierce rally.
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NEW YORK - Disappointing earnings from Morgan Stanley and oil prices topping $48 per barrel sent stocks sharply lower Wednesday as investors moved to protect their recent gains. The Dow Jones Industrial average dropped nearly 120 points...
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Oil prices ended in negative territory  on Monday after dealers took profits from a nearly $2 surge  that had been triggered by export disruptions in Iraq and the  North Sea.
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NEW YORK -- A worse-than-expected manufacturing report and falling natural gas prices pulled the plug yesterday on a two-day oil rally that saw prices jump more than $4 a barrel.
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Oil prices fell nearly 1 percent to below $93 a barrel on Tuesday, fading from their latest record high as investors took profits from a rally fuelled by a Mexican supply outage and the spiraling dollar.
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NEW YORK - A sharp drop in oil prices gave Wall Street a modest relief rally Monday, with stocks edging higher on news that oil production had soared during the month of September.    Investors who have sold stocks for months as oil prices climbed reversed course Monday and started buying as the price of crude declined...
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LONDON  - Oil prices see-sawed, failing to sustain a brief rally on news of a surprise fall in US distillate stockpiles, including heating fuel, and an unexpectedly small increase in crude inventories.
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Oil dropped more than a dollar towards $89 a barrel on Monday as falling global stock markets spurred profit taking.
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Oil prices fell a dollar on Wednesday on profit-taking despite a lingering deep freeze in the United States that was boosting demand for heating oil.
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Profit taking after Wall Street's nine-session rally pushed stocks slightly lower Monday even as oil prices continued their downward trend.