Oil eases as investors cash in on $100 rally
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Oil eased below $99 a barrel on Friday as investors took profits from a record rally that swept prices above $100 a barrel and heightened concern over the world's economic wellbeing.
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Oil held steady on Friday, hovering at about $99 a barrel, after falling the day before as traders took profits from a record rally that saw crude prices spike to over $100 a barrel.
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Oil held near its lifetime high of $100 a barrel on Thursday, fuelled by expectations of another fall in U.S. fuel stocks and a struggling U.S. dollar.
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Oil held steady on Friday, hovering at about $99 a barrel, after falling the day before as traders took profits from a record rally that propelled crude prices to over $100 a barrel.
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Oil hovered above $95 a barrel on Monday, as investors weighed the effects of a slowing U.S. economy against an escalating row between OPEC member Venezuela and oil major Exxon Mobil .
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Oil prices surpassed $100 a barrel for the first time after a U.S. government report showed a steep slide in crude inventories.
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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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Oil eased on Friday, but stayed within sight of its $90 peak, supported by tight fuel stocks ahead of winter and a softening U.S. dollar.
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LONDON SEPTEMBER 6: Oil prices eased on Monday as speculative funds continued to take profits but a tight global supply picture stopped the selling from gaining much momentum.
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Oil prices eased back below $59 a barrel as investors focused on U.S. fuel data due later on Wednesday that is expected to show a rise in gasoline stocks in the world's top consumer.
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Stocks rallied in quiet trading Wednesday as oil prices fell for a third straight day and countered a pair of government reports that gave a mixed picture of the economy.
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LONDON, Nov 18  - Oil prices continued their decline Thursday after a brief rally on the back of renewed concerns over heating oil stocks in the United States fizzled out.
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Wall Street gave up a big early gain Tuesday as oil prices closed above $100 for the first time and stoked fears that inflation will stymie an already troubled economy.
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Oil companies' shares got a modest boost as crude oil prices touched a record $100 per barrel on Wednesday, but some analysts do not expect that to trigger a rally in energy's biggest names.
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Stocks fell on Tuesday as crude oil prices rose to a record above $100 a barrel, erasing an earlier rally on concern that higher energy costs could fan inflation and crimp consumer spending and profits.
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The FTSE 100 remained on positive ground, but amid volatility as Wall Street see-sawed around the gain line, on mixed sentiment about the latest economic data, while oil prices remained under scrutiny on reports that OPEC has agreed to cut oil production, dealers said.
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A sharp drop in oil prices gave Wall Street a modest relief rally yesterday, with stocks edging higher on news that oil production had soared during the month of September.