Prices of oil drop despite sabotage
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Oil futures dropped by nearly $1 per barrel yesterday despite more sabotage of Iraqi oil infrastructure, reinforcing the view among traders that prices had risen too fast earlier this summer.
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Crude oil futures prices plummeted today, falling by nearly $3 a barrel, as traders shelved concerns about tight winter-fuel supplies.
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World oil prices fell about $2 a  barrel on Friday as dealers took profits from a recent rally,  but the market remained on edge as powerful Hurricane Ivan  thrashed through the Caribbean on a track toward the  energy-rich Gulf of Mexico.
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LONDON -- Oil prices fell but held above $61 a barrel yesterday as the market awaited OPEC's decision this week on whether to make further production cuts to shore up prices.
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Oil prices fell to just above $48 on  Friday after the U.S. government said it would lend refiners  crude from the Strategic Petroleum Reserve (SPR), but traders  deemed the loan too small to have a lasting impact.
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Oil prices slipped further from record highs on Wednesday as traders locked in profits after the market's &#36;10 surge since mid-August.
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Oil prices fell yesterday after rising nearly $2 the previous session after two car bombs in Saudi Arabia rekindled fears over the security of Middle East supplies - one of the factors behind this year&#39;s overall 32 per cent rally.
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Oil prices have fallen as much as $16   from their peaks, their steepest reversal in 16 years, in a   correction that traders say may be harder to shake off than   past setbacks in the market's four-year rally.
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WASHINGTON -- Oil prices fell sharply yesterday after briefly surpassing $54 US a barrel despite nagging concerns that the global supply buffer is too thin to handle a significant disruption of output.
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OIL prices fell today despite new sabotage attacks on Iraqi pipelines and worries about tropical storm Frances, with the New York market closed for the Labour Day holiday.
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The price of heating oil isn't falling as fast as the price of gasoline, but it's starting to drop.
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Amid soaring crude oil prices, gasoline costs have been dropping. But don't expect that to last, economists say.
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By Malcolm Moore, Economics Correspondent (Filed: 27/08/2004). The price of oil continued to fall yesterday but a fresh attack on Iraqi pipelines kept it above $40 a barrel.
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Battered oil prices stayed weak on Friday after a $6 slump spurred by easing worries about winter supplies. US crude oil futures (CLc1: Quote, Profile, Research) fell five cents to $43.20
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WASHINGTON -- Oil prices tumbled for a third consecutive day yesterday, briefly falling below $45 a barrel, as geopolitical concerns that had brought the market to a boil in recent weeks appeared to cool off.
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WASHINGTON -- Oil prices slipped yesterday after the president of Venezuela survived a recall referendum, though fears of potential supply interruptions in other parts of the world kept futures above $46 a barrel.
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Oil prices have fallen as much as $16  from their peaks, their steepest reversal in 16 years, in a  correction that traders say may be harder to shake off than  past setbacks over the market's four-year rally.