Crude slumps below $42
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OIL prices fell more than a dollar to a three-month low yesterday as mild winter weather sapped demand in the heavy energy consuming north-east of the United States.
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Crude oil futures traded below $49 US a barrel Monday following a steep runup on Friday that was prompted by persistent concerns about winter fuel supplies.
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New York - Oil prices continued to plummet on Thursday, falling almost five per cent to hit a 12-week low. On the New York Mercantile Exchange, the January contract for light sweet crude was down $2.24 US
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Crude futures sold off sharply for a second day in a row yesterday, briefly dipping below $43 a barrel, as traders focused on rising fuel supplies and the lack of cold weather.
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Oil fell more than a dollar to less than $68 a barrel yesterday, pulled lower by expectations that any sanctions against oil producer Iran were in the distance and would not necessarily disrupt export flows.
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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 futures sold off sharply for a second day in row Thursday, falling below $44 a barrel, as traders focused on rising fuel supplies and the lack of cold weather. The drop to two-month lows triggered an additional wave of technical and speculative selling, traders said.
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WASHINGTON -- Oil prices fell by more than $1 a barrel yesterday , dipping below $67 as traders focused on slackening demand and rising supplies.
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Crude-oil futures nose-dived for a second day in a row Thursday, briefly dipping below $43 a barrel, as traders focused on rising fuel supplies and the lack of cold weather.
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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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Oil eased further below $64 on Tuesday   due to healthy U.S. fuel stocks, but a fresh delay to BP's   giant Thunder Horse oilfield in the Gulf of Mexico limited the   decline.
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Crude oil futures prices briefly dipped below $48 a barrel Tuesday on expectations that US oil supplies will continue to grow and that heating oil inventories will be adequate this winter.
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After a month-long rally that repeatedly pushed oil prices to new highs, the cost of a barrel slumped for the fourth day in a row, dropping by nearly $2 to below $44.
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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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Crude oil prices slipped yesterday, falling to a five-month low after an inventory report showed that higher refinery production was helping boost US gasoline and distillate inventories.
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Oil futures prices sank to their lowest level in nearly a month Monday on a continuation of the selloff sparked last week by rising US supplies of crude and easing fears about the refining industry&#39;s ability to satisfy heating oil demand.
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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.