Oil Falls from Record as Chavez Survives
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Oil prices fell from fresh record highs  on Monday as early reports of victory for Venezuelan President  Hugo Chavez in a referendum on his rule eased fears that unrest  could upset the country's oil exports.
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Oil fell after surging to a record high above $90 a barrel earlier on Friday as tight fuel stocks ahead of winter and a softening U.S. dollar spurred investor buying.
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Oil fell on Monday, extending the previous session's decline on profit taking from record highs, but hovered near $88 on simmering geo-political tensions and a weak dollar.
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Venezuela softened its tone on Tuesday over a threat to stop oil sales to America, with a top official saying a supply cut would be undesirable a day after world oil prices rose due to President Hugo Chavez's warning.
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NYMEX crude oil futures jumped to a  record $46.85 a barrel on Monday on concerns about supply  disruption from oil exporter Venezuela, which is voting in a  referendum on whether to recall President Hugo Chavez.
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Oil prices simmered near new record  highs Monday even though early reports of victory for  Venezuelan President Hugo Chavez in a referendum on his rule  eased fears that unrest could upset the country's oil exports.
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London: Oil prices hovered below recent record highs today after intervention by the Norwegian government to end industrial strife in the worldâs third-biggest oil exporter took some heat out of feverish markets.
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US oil prices drifted below $50 a barrel on Tuesday, extending a week-long slump that has shaved more than $5 off record-high prices as some traders cashed in profits ahead of the US presidential election.
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LONDON : World oil prices retreated as they were unable to recover heavy losses caused by profit-taking ahead of the US presidential election.
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U.S. oil eased and Brent backed away  from a new record-high on Tuesday as traders took profits from  a 3 percent surge after BP shut down Alaska's Prudhoe Bay  oilfield, the biggest in the United States, possibly for  months.
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Oil fell 3 percent to $61 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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CARACAS, Venezuela  - Venezuelan President Hugo Chavez said his rival averted a bloodbath in the polarized OPEC nation by quickly conceding defeat without contesting his landslide re-election on Sunday.
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Crude oil futures continued to retreat from record levels of more than $54 US a barrel Wednesday as traders nervously monitored developments in strike-hit Nigeria and recovery efforts in the Gulf of Mexico.
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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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NEW YORK : World oil prices raced to new record highs and then skidded as the Norwegian government announced it would intervene to end industrial strife in the huge oil sector.
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Oil fell more than two dollars on Tuesday, as profit-taking pulled the market down from record highs that were fuelled by a Mexican supply shut-down and a weak dollar.
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Oil prices fell sharply yesterday after briefly passing $54 a barrel amid nagging concerns in the market that the global supply buffer is too thin to handle a significant output disruption.