Crude slumps below $42
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OIL prices fell more than a dollar to a three-month low yesterday as mild winter weather sapped demand in the heavy energy consuming north-east of the United States.
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NEW YORK, December 2  - Crude oil prices declined for the third consecutive day today, reaching their lowest levels in 11weeks, on news of rising US fuel inventories and a less severe winter in various parts of the country.
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The slide in crude oil prices takes a barrel in London down to little more than $40, as traders realise profits after the recent surge.
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Oil prices fell below $48 US a barrel Wednesday after the US government reported increases in the US supply of crude oil and distillate fuel, which includes heating oil.
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Oil prices sank more than 2 percent and fell below $44 a barrel Wednesday, extending their recent slide after a government report showed domestic gasoline supplies had not fallen last week, as Wall Street had expected last week.
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Crude oil prices slipped yesterday, falling to a five-month low after an inventory report showed that higher refinery production was helping boost US gasoline and distillate inventories.
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US blue-chip stocks declined to the lowest level in more than a month on Thursday as crude oil prices touched $49 a barrel and renewed concerns that high fuel costs will erode corporate profits.
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On expectations that US oil supplies will continue to grow and that heating oil inventories will be adequate this winter, crude oil prices fell below $48 a barrel on Tuesday.
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Oil prices fell to a four-week low yesterday, briefly dropping below $50 a barrel, as traders grew less concerned about possible threats to supplies.
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Crude oil futures nose-dived for a second day in a row yesterday, briefly dipping below $43 a barrel, as traders focused on rising fuel supplies and mild fall weather in the Northeast and Midwest.
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Oil futures prices sank nearly 5 percent yesterday, dropping below $53 a barrel, as concerns about tight winter-fuel supplies eased, at least temporarily, and traders turned their attention to rising US inventories of crude.
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Crude oil futures sank for a fourth straight day yesterday, settling beneath $43 a barrel for the first time in nearly three months and capping a 14 percent decline for the week.
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The selloff in crude oil futures continued for a fourth straight day Friday, with prices skidding below $43 a barrel to roughly 14 percent below where they were at the beginning of the week.
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Crude oil futures traded below $49 a barrel Monday following a steep runup on Friday that was prompted by persistent concerns about winter fuel supplies.
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Oil futures prices sank below $50 a barrel Monday, continuing the selloff sparked last week by rising US supplies of crude and easing fears about the refining industry&#39;s ability to satisfy heating oil demand.
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Oil prices fell on Thursday, resuming a three-week downturn as rising world crude supplies replenish consumer inventories. US light crude futures were down 69 cents at $46.15 a barrel, erasing Wednesday&#39;s 73 cent advance.
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Oil prices tumbled to an 11-week low  below $45 a barrel on Thursday, deepening a dramatic slide  after an increase in U.S. heating oil stocks eased worries of a  winter supply squeeze.