Crude Oil Falls for 2nd Day on Larger-Than-Expected Supply Gain
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Crude oil futures fell in New York, extending the biggest decline in five months yesterday, after a jump in US inventories eased concern about a winter shortage.
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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 edged lower on Thursday, adding to a near 2 percent sell off the previous day caused by a smaller-than-expected drop in U.S. heating fuel inventories.
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Crude futures sold off sharply for a second day in row Thursday, briefly dipping below $43 a barrel, as traders focused on rising fuel supplies and the lack of cold weather.
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World oil prices have fallen strongly for the second day running as worries over supply disruptions eased, with traders claiming overnight pipeline attacks in Iraq were unlikely to affect the country&#39;s crude exports.
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Crude oil futures were little changed after surging 4.5 percent yesterday, the biggest increase in two months, as the US Energy Department reported a bigger-than- expected decline in the country&#39;s oil supplies.
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Oil fell more than a dollar on Wednesday after U.S. inventory data showed a much bigger than expected rise in crude stockpiles.
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NEW YORK, October 27  - Crude oil prices declined sharply today after the US weekly inventory data revealed a higher-than-expected increase in crude oil inventories last week.
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Oil extended its retreat on Thursday,  taking two-day losses to 6 percent after an unexpectedly large  rise in U.S. crude inventories spurred speculative funds to  take profits out of record high prices.
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Oil prices rose for a second day on  Wednesday after the U.S. government reported a fresh decline in  lean winter heating fuel stocks.
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U.S. oil prices fell for a second session  on Tuesday on worries that high energy costs may crimp economic  growth, but crude remained firmly planted above $50 a barrel on  persistent fears of a winter supply crunch.
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Oil fell 2 percent on Wednesday as U.S. gasoline stocks rose and crude inventories hit a nine-year high, easing supply concerns in the world's top consumer.
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U.S. residential heating oil prices declined for the second week in a row as heating fuel inventories increased more than expected, the Energy Department said on Wednesday.
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Crude oil prices rose for the second day Thursday as traders worries that the Organization of Petroleum Exporting Countries (OPEC) might trim excess oil output.
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U.S. stocks are seen falling for a  second-straight day on Friday on concerns the economy and  corporate profits will slow after crude futures touched another  record in overnight trading.
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Crude oil rose for a second day on speculation that the Organization of Petroleum Exporting Countries will call for a production cut at a meeting tomorrow.
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Crude futures sold off sharply for a second day in a row yesterday, briefly dipping below $43 a barrel, as traders focused on rising fuel supplies and the lack of cold weather.