Oil drops $1 a barrel; forecast is lower still
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Oil prices fell by more than $1 a barrel yesterday and analysts said ample global supplies at a time of year when demand is weak could prompt more selling -- at least until winter heating demand kicks in.
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Oil fell more than $1 on Tuesday, retreating further from record highs set last week in response to concerns about the health of the U.S. economy and further indications OPEC has already substantially raised oil output.
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Oil fell below $88 a barrel on Wednesday as stock markets continued their decline, shrugging off a temporary reprieve from Tuesday's steep cut in U.S. interest rates amid persistent fears of a global economic slowdown.
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Oil fell below $63 a barrel on Friday,   its lowest level since March, as ample U.S. fuel stocks looked   set to meet winter heating demand in the world's biggest   consumer.
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Oil fell more than a dollar to below $60 a barrel on Tuesday, nearing a seven-month low on forecasts of a further increase in fuel inventories in top oil consumer the United States.
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Oil prices fell nearly 1 percent to below $93 a barrel on Tuesday, fading from their latest record high as investors took profits from a rally fuelled by a Mexican supply outage and the spiraling dollar.
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Oil prices drifted below $47 a barrel  early on Wednesday, well off recent peaks as traders braced for  another increase in U.S. crude oil inventories.
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Oil prices fell below &#36;73 a barrel on  Tuesday in thin trade, but nagging fears about supply  disruption and expectations of strong U.S. demand for gasoline  were expected to prevent a deeper sell-off.
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Oil prices fell again Tuesday, with U.S. light crude sinking to about $53 a barrel, despite persistent supply worries and an attack on a key Iraqi pipeline.
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Crude oil fell more than $1 for the first time in a month after reaching a record $54.45 a barrel in New York on speculation that demand doesn&#39;t warrant prices at this level.
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Oil fell below $93 per barrel Monday in thin trade as mild weather swept across the key heating regions of the United States, cutting fuel demand.
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Oil settled at a one-month low on Tuesday amid intensifying worry a weak U.S. economy could trigger a global slowdown in energy demand.
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Oil prices edged lower on Wednesday as traders waited to see whether the first cold snap of the US winter had eaten into low heating fuel supplies.
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Oil futures dipped below $46 a barrel yesterday as traders assessed what appeared to be a short-lived cold snap in the United States, where cold weather and tight heating oil supplies helped drive prices higher last week.
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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 fell $1 below record highs  on Tuesday as fears over supply disruptions in Venezuela eased  after President Hugo Chavez won a vote on his rule.
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Oil prices slid on Monday on  expectations that more mild U.S. weather at the start of the  New Year will limit heating oil demand.