Oil Fades to $47 as Supplies Build
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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 ahead of winter.
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The price of oil rose to a record $47 a barrel in New York on Wednesday on jitters about supplies from Iraq and Russia&#39;s Yukos, before the release of a report that could show a third straight weekly drop in US inventories.
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U.S. shares were seen opening weaker  on Wednesday as oil prices held near $47 a barrel, while a  brokerage downgrade on technology bellwether Cisco Systems Inc.  CSCO.O could hurt technology shares.
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Oil prices held firm, close to $47 a  barrel on Wednesday after U.S. data showed the disruption  caused by Hurricane Ivan had eaten into fuel stocks.
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Oil prices firmed above $47 a barrel  on Friday, bolstered by a tightening outlook for market  fundamentals and concern OPEC may cut its output this spring.
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Oil fell below $61 a barrel on Wednesday   after a larger-than-expected increase in fuel inventories in   the United States, the world's largest oil consumer.
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Oil fell more than a dollar to below $62 a barrel on Monday as healthy fuel inventories in top consumer the United States countered plans by OPEC members Nigeria and Venezuela to trim output.
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Oil futures prices fell sharply Monday, sinking below $50 a barrel on a continuation of last week&#39;s selloff, which was prompted by rising inventories of crude in the United States.
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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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WASHINGTON -- Oil prices fell by more than $1 a barrel yesterday , dipping below $67 as traders focused on slackening demand and rising supplies.
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Oil prices held firm above $47 a  barrel as worries about a possible cut to OPEC production  curbed fears of a slowdown in second-quarter demand.
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Oil prices eased on Friday, but still  within sight of the $55-mark as traders feared time was running  out to top up low heating oil supplies before winter.
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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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Oil prices fell on Monday to an 8-week  low under $47 a barrel, as growing fuel stocks in the United  States eased fears of a winter supply crunch.
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WASHINGTON -- Oil prices fell sharply yesterday after the US government reported US inventories of crude rose 3.4 million barrels last week, surprising many traders and analysts who had expected to see supplies shrink due to lingering output problems in
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Crude oil futures traded below $49 a barrel Monday following a steep runup on Friday that was prompted by persistent concerns about winter fuel supplies.
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Crude oil rose slightly on Friday to $47.57 per barrel compared to yesterday fall on expectations for inventories to be lifted. December crude oil was at $47.