Oil fades to $47, awaits US stock data
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LONDON: Oil prices fell to seven-week lows below $47 a barrel on Wednesday as traders braced for another increase in US oil and natural gas inventories.
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Oil slipped on Monday to around $59 a barrel, pressured by expectations for warmer weather in the United States and supported by threats to supply in Nigeria.
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US oil prices slid half a dollar to below $44 a barrel on Monday as warmer-than-expected weather in the United States was expected to curtail demand.
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Oil prices edged lower in thin early  trade 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 climbed above $47 a barrel today, after figures showed supplies in the U.S. were down for a third consecutive week.
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Oil prices fell on Monday to a 7-week low under $47 a barrel, as growing fuel stocks in the United States eased fears of a winter supply crunch despite a cold snap in North America at the weekend.
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Traders brace for another rise in US crude, natural gas stocks, IEA says prices may have peaked. LONDON  - Oil prices fell to seven-week lows Wednesday, below $47 a barrel, as traders braced for another
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Oil traded lower on Wednesday ahead  of key U.S. stocks data, which was expected to show a rise in  heating fuel supplies as mild winter temperatures suppressed  demand in the United States.
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Crude oil futures traded below $49 US a barrel Monday following a steep runup on Friday that was prompted by persistent concerns about winter fuel supplies.
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Oil prices fell on Monday to a seven-week low just under $47 a barrel, as growing fuel stocks in the United States eased fears of a winter supply crunch despite a cold snap in North America at the weekend.
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Oil prices fell Thursday after moving close to US$49 a barrel as markets digested news of a rise in crude inventories but lower-than-expected US heating oil stocks.
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Stocks looked to open flat on Thursday  as a sales warning from Applied Materials Inc. AMAT.O  threatens to weigh on tech shares and oil prices hold below $47  a barrel.
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Oil prices held steady near $47 on  Wednesday, a day after striking another record peak as U.S.  inflation stayed in check despite scorching energy costs and  ahead of weekly data expected to show a drop in crude stocks.
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Oil prices hurdled $47 a barrel Tuesday, with further declines in the nation&#39;s supply expected in the short-term as petroleum producers disrupted by Hurricane Ivan continue to regroup.
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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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Worries piled up on financial markets on  Monday as the price of oil closed in on $47 a barrel and  investors feared for the state of the U.S. economy after a slew  of poor data.
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Oil prices briefly raced above $47 a barrel yesterday, then backed off after worries faded about colder weather in the United States and about rough weather that slowed efforts to restore crude production in the North Sea.