Oil prices fall on profit-taking after futures pass $55 a barrel
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Oil prices fell sharply yesterday in what traders described as a wave of profit-taking after futures hit a new high above $55 a barrel and after gasoline futures fell sharply on indications of declining demand.
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Oil futures prices sank nearly 5 percent yesterday, dropping below $53 a barrel, as concerns about tight winter-fuel supplies eased, at least temporarily, and traders
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Oil prices fell 3 percent after setting  record highs above $55 a barrel on Monday as dealers took  profits on signs that energy costs are hitting economic growth.
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Oil prices broke above $55 a barrel on  Tuesday as concern lingered over thin world heating oil  supplies ahead of the northern winter.
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Oil prices continued falling on Thursday after an unexpectedly large rise in US crude inventories spurred profit-taking from record highs.
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Oil prices fell on Monday to a 7-week low under $47 a barrel, as growing fuel stocks in the United States eased fears of a winter supply crunch despite a cold snap in North America at the weekend.
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Crude oil futures fell below $47 a barrel yesterday as the US government's latest petroleum report showed an unexpected rise in gasoline inventories and a surprising decline in the nation's oil supply.
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Oil prices fell sharply on Monday in what traders described as a wave of profit-taking sparked by a steep decline in gasoline futures.
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Crude-oil futures sank for a fourth straight day yesterday, settling beneath $43 a barrel for the first time in nearly three months and capping a 14 percent decline for the week.
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U.S. stocks fell on Monday as oil  prices held near $55 a barrel and Dow component 3M Co. MMM.N  posted results slightly below Wall Street estimates.
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Oil prices fell on Thursday as forecasts  of mild U.S. weather prompted traders to take profits from a  rally that has added 30 percent to the cost of crude this year.
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Oil prices eased on Monday in  profit-taking on heating oil from sharp gains last week sparked  by concerns over low supplies of winter heating fuels.
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Crude oil futures fell sharply Tuesday as traders opted to cash in profits after six straight sessions of strong gains in oil market.
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Oil prices eased from new highs on  Friday as dealers pocketed profits from a long record-breaking  run after escalating violence in Iraq took U.S. crude close to  $50 a barrel.
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Oil prices eased to $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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Crude oil futures fell Tuesday after moving above $47 US a barrel in intraday trading. December delivery crude on the New York Mercantile Exchange dropped 76 cents to $46.11 per barrel.
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A decline in the nation&#39;s inventory of heating oil catapulted crude futures prices toward $55 a barrel yesterday, providing the latest jolt to a market already