Heating oil down 9%; natural gas at lowest since March
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SAN FRANCISCO (CBS.MW) -- Futures for crude oil dropped almost 7 percent Monday, sending the benchmark contract to its lowest level in nearly four months amid growing domestic inventories and expectations for milder winter weather in the United States.
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Oil prices dropped by nearly $1 a barrel yesterday as traders focused on a halt in the dollar's decline, weak manufacturing data, and expectations of mild weather next week, which sent natural gas and heating oil futures sharply lower, too.
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Oil prices edged lower on Wednesday as traders waited to see whether the first cold snap of the US winter had eaten into low heating fuel supplies.
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Oil prices fell to a new six-month low   below $60 a barrel on Monday as news of BP restoring output at   Prudhoe Bay added to a sense of healthy global supplies.
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Oil prices fell below &#36;73 a barrel on  Tuesday in thin trade, but nagging fears about supply  disruption and expectations of strong U.S. demand for gasoline  were expected to prevent a deeper sell-off.
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Oil futures prices sank nearly 5 percent Wednesday, dropping below $53 a barrel, as concerns about tight winter-fuel supplies eased, at least temporarily, and traders
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Chevron Corp. , the No. 2 U.S. oil company, said on Friday its fourth-quarter profit fell 9 percent, pulled down by weaker natural gas prices that have pared record earnings across the industry.
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Oil prices edged lower on Thursday, adding to a near 2 percent sell off the previous day caused by a smaller-than-expected drop in U.S. heating fuel inventories.
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Oil fell below $88 a barrel on Wednesday  as stock markets declined further, shrugging off a temporary  reprieve from Tuesday's steep cut in U.S. interest rates amid  persistent fears of a global economic slowdown.
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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 prices fell 3.5 percent to a three-month low Tuesday as mild winter weather sapped heating oil demand in the U.S. Northeast.
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Oil prices edged lower on Thursday,  adding to a near 2 percent sell off the previous day caused by  a smaller-than-expected drop in U.S. heating fuel inventories.
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Oil prices slid on Monday on expectations that more mild U.S. weather at the start of the New Year will limit heating oil demand.
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U.S. crude dropped more than $4 on Tuesday to its lowest level since early December on worries that a possible U.S. recession would slow demand from the world's largest energy consumer.
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Oil prices slid on Monday on  expectations that more mild U.S. weather at the start of the  New Year will limit heating oil demand.
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U.S. crude dropped more than $4 on  Tuesday to its lowest level since early December on worries  that a possible U.S. recession would slow demand from the  world's largest energy consumer.
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Oil prices fell to a six-month low  under $60 a barrel on Monday as BP's move to restore output at  Prudhoe Bay earlier than expected added to a sense of healthy,  secure supplies, while demand growth questions loomed large.