Oil prices pause for breath after two-day rout
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London - Oil prices edged lower on Friday after a two-day rout that saw the value of crude drop 12 percent amid easing fears over a northern winter supply shortage, traders said.
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Oil steadied below $58 a barrel on Thursday after its repeated failure to breach $60 triggered a two-percent sell-off the previous day.
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Oil prices fell over a dollar on  Thursday, tumbling from a two-week high as traders took profits  after dramatic gains on Wednesday driven by renewed fears over  fuel supplies for the northern winter.
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Oil prices held firm on Friday after  leaping almost $2 a day earlier as the U.S. government said  crude stocks sank for the sixth straight week and distillate  fuels barely grew ahead of winter.
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Oil prices touched 2-month lows near $45 a barrel on Monday before taking back most of their losses, but the downward trend knocked energy company stocks lower and US stock indexes ended little changed.
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World oil prices have fallen strongly for the second day running as worries over supply disruptions eased, with traders claiming overnight pipeline attacks in Iraq were unlikely to affect the country&#39;s crude exports.
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World oil prices stood firm on Thursday,  holding onto near-$2 per barrel gains made the previous session  when U.S. inventory data showed commercial crude stocks falling  to their lowest in five months.
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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 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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NEW YORK -- Oil prices pulled back after briefly surpassing $62 a barrel yesterday, as traders regarded forecasts of warm US weather as an opportunity to take some profits.
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Oil prices steadied on Friday after an eight percent rout driven by a surprise interest rate hike in China that raised doubts about demand from the world&#39;s second largest energy user.
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Oil prices fell from record peaks for a  second session on Wednesday as traders took profits from a  searing rally on signs that high prices are finally starting to  dampen demand.
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Oil prices rose nearly $2 on Thursday  after a big fall in U.S. natural gas inventories triggered  renewed concerns about winter fuel stocks in the world's  biggest energy-consuming nation.
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U.S. Treasury prices paused for breath on Tuesday after a blistering two-session rally ran out of steam, though analysts still saw room to the upside given the large short-base in the market.
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Oil prices extended a two-day slide on  Thursday that has sliced more than 8 percent from the cost of a  barrel, as rising U.S. crude supplies eased fears of a winter  fuel crunch and China moved to slow its runaway economic  growth.
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Oil prices were little changed on Friday, holding around $59 a barrel after tumbling on a build in crude stocks, but trade was muted by a U.S. holiday.
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LONDON : Oil prices rebounded after plunging by over 10 percent in under two weeks on fading supply fears, as traders turned their attention to weekly estimates of US oil inventories.