Oil Falls &#36;1 as OPEC Holds Steady
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Oil prices tumbled on Monday after OPEC producers agreed to keep crude output unchanged for now and Iraq's elections passed without disruption to oil exports.
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Oil prices held firm on Friday after leaping almost &#36;2 a day earlier on news U.S. crude stocks sank to a five-month low last week and distillate fuels barely grew ahead of winter.
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Oil prices stuck near &#36;47 a barrel on Monday as traders were torn between the seasonal ebb of demand in the second quarter and the constant threat of an OPEC output cut.
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Oil steadied above $62 on Friday,   supported by signals that some OPEC producers may trim output   to stem a price decline caused by ample U.S. inventories.
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Oil prices eased to &#36;45 a barrel on Tuesday, extending a profit-taking set-back despite a looming cold spell in the eastern United States and global supply outages.
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Oil fell on Tuesday as concerns about U.S. economic health and signs OPEC was ramping up output pulled prices further from the record $90 struck last week.
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Oil steadied near $66 a barrel on   Tuesday, with bargain-hunting traders ending a six-day retreat   after Iran sounded a softer note on its atomic program and OPEC   agreed to keep production steady for now.
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Oil steadied above $61 a barrel on   Tuesday as producer group OPEC kindled fears of production   cuts, saying oil's recent slide from record peaks had brought   prices too low.
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Oil fell more than $1 on Tuesday, retreating further from record highs set last week in response to concerns about the health of the U.S. economy and further indications OPEC has already substantially raised oil output.
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World oil prices steadied with prices, underpinned by the US Atlantic hurricane season -- which threatens to damage energy facilities -- and expectations that OPEC will keep its output unchanged at a meeting next week, dealers said Wednesday.
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Oil dropped nearly 3.5 percent to below $58 on Monday as OPEC members including Saudi Arabia signaled the group would probably keep output stable when it meets in March and as U.S. winter supply concerns eased.
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OPEC is leaning towards keeping oil output steady at its September 11 meeting, ministers said on Monday, wary the U.S. economy may be headed for a slowdown that would undermine forecasts for strong oil demand growth.
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U.S. oil prices were steady on  Thursday, holding gains of nearly $2 from a day earlier after a  U.S. government report showed crude oil stocks falling to their  lowest level in five months.
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Oil prices held steady on Tuesday after falling 2 percent a day earlier and were set for further falls in anticipation of higher U.S. crude stocks despite concerns over disruptions to Iraqi oil flow.
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Oil steadied near $63 a barrel on   Thursday, holding onto the previous day's gains supported by   investment fund buying and speculation that OPEC could trim   output to bolster prices.
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Oil steadied near $60 on Friday as investors were cautious on OPEC's resolve to carry out a planned supply cut and fuel inventories swelled in top consumer the United States.
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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.