Crude Oil Falls as Energy Department May Tap Strategic Reserve
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Crude oil in New York fell from a one-month high after the White House said the US may loan oil to refineries from the Strategic Petroleum Reserve to make up for supply disruptions caused by Hurricane Ivan.
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U.S. proven crude oil reserves fell  last year for the first time in five years, as energy companies  replaced just over half the oil they took out of the ground,  the U.S. government said on Wednesday.
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The U.S. Energy Department on  Wednesday put itself on a collision course with Senate  Democrats with a plan to buy more oil for its strategic reserve  even as prices hover near $90 a barrel.
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: Crude oil futures fell today as workers in Norway conceded to Government demands to end a strike that could have threatened exports from the world&#39;s third-largest supplier.
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Crude oil futures may decline next week on speculation the US is importing enough to boost inventories, easing concern about a shortage of winter fuel, according to a Bloomberg survey.
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The crude oil price, based on the average price package of seven market-monitored crudes, fell to 38.89 dollars a barrel last week, down 2.46 dollars of the price in the previous
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Crude oil fell more than $1.50 a barrel yesterday, the biggest decline in two weeks, after the United States Energy Department reported an unexpected rise in inventories.
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Crude oil fell almost $2 a barrel, the biggest decline in two weeks, after the US Energy Department reported an unexpected rise in inventories.
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Crude oil fell as OPEC President Purnomo Yusgiantoro said the group may raise its spare production capacity to as much as 2.5 million barrels a day by the end of this year, reducing concern about shortages.
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Crude oil prices have dipped in New York, sliding as much as two dollars to around $50 a barrel. That&#39;s extending declines seen last week despite concerns that a planned strike in Nigeria could affect output.
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Oil futures retreated below $50 a barrel yesterday, though analysts said there is enough uncertainty about geopolitics and weather -- and the industry&#39;s
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Crude oil prices continued to fall Tuesday as emerging signs showed that the growth in oil demand might slow in 2005. On the New York Mercantile Exchange, crude oil for November
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NEW YORK -- Crude oil futures slipped yesterday as Norwegian officials ordered striking oil workers back on the job, preventing more cuts in production from the third-largest global exporter of crude.
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The Bush administration plans to release oil from the nation&#39;s emergency stockpile to make up for supply disruptions caused by Hurricane Ivan - the first time in nearly two years the reserve has been tapped.
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On Wednesday, the Energy Department reported a 7.1-million barrel drawdown in oil supplies for the week ended Sept. 10. As of the latest report, oil supplies stood at a seven-month low.
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Oil prices fell yesterday after U S government data showed rising supplies of crude. Natural gas futures declined on the heels of a separate report that showed healthy domestic inventories of the home-heating fuel.
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LONDON Crude oil fell from a record high in London on Thursday on speculation the United States may use oil from its emergency stockpiles to keep refineries running after Hurricane Ivan curtailed supplies from the Gulf of Mexico.