Gas, oil inch lower as supplies rise, refineries restart
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Gas prices dropped a cent at the pump overnight, following a futures market that has plunged more than 25 cents a gallon over five days on news of growing inventories and refineries returning to service.
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Oil prices edged lower on Wednesday,  keeping within sight of $50 a barrel on supply worries in the  United States, where weekly data is expected to show a draw in  distillate inventories.
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Oil prices fell to seven-week lows near &#36;47 a barrel on Wednesday as traders braced for another increase in U.S. oil and gas inventories.
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NEW YORK (CBS.MW) -- US stocks were slightly lower in early trading Tuesday as oil prices rose on the threat to supplies posed by Hurricane Ivan&#39;s progress through the Gulf of Mexico, with weaker-than-expected data further undermining sentiment.
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US refineries cranked out higher levels of heating oil and gasoline last week, which contributed to an early downturn on the futures market Wednesday.
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World oil prices turned lower as Hurricane Ivan looked set to leave major coastal refineries in the United States unscathed, comforting traders nervous about supply disruptions.
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Gasoline prices extended their slide at the pump Wednesday, while oil and gasoline futures gained on a surprise decline in gas inventories.
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Oil prices rebounded Friday but remained below $50 a barrel after declining 4 percent over the past week due to rising US supplies of crude and natural gas.
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Oil edged down on Friday after a  gasoline-led rally, but supply risks from the closure of a  shipping channel in the United States to a strike by oil  service workers in Norway provided support.
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Oil prices fell to seven-week lows below  $47 a barrel on Wednesday as traders braced for another  increase in U.S. oil and natural gas inventories ahead of  winter.
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Crude oil futures were little changed after rising yesterday as a decline in US heating oil supplies raised concern about shortages this winter, which is expected to be colder than normal.
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Oil prices edged below $49 a barrel on  Wednesday as traders factored in expectations for petroleum  stock builds in weekly U.S. inventory data that would ease  supply worries ahead of peak northern winter demand.
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Crude oil fell to a six-week low on expectations that an Energy Department report tomorrow will show that US oil and petroleum-product inventories rose.
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CRUDE oil futures fell yesterday after the American government reported a slight increase in the US inventory of crude. The supply of distillate fuel, which includes heating oil, also increased, following
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The company said lower refining margins and gas prices were exacerbated by disruptions at some refineries.
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Oil fell more than $1 to fresh   five-month lows Friday after rising U.S. fuel inventories and   the potentially early restoration of full output at BP's giant   Alaska oil field eased supply concerns.
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Oil prices fell below $48 a barrel Wednesday after the US government reported increases in the nation&#39;s supply of crude oil and distillate fuel, which includes heating oil.