Oil Falls Below $49 on Nigeria Cease-Fire
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Oil prices slid from record highs above  $50 a barrel on Wednesday as the U.S. government reported a  surprise increase in crude stocks and rebels in Nigeria's  oil-rich delta region agreed a temporary cease-fire.
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Oil prices slid from record highs above $US50 a barrel Wednesday as the US government reported a surprise increase in crude stocks and rebels in Nigeria&#39;s oil-rich delta region agreed to a preliminary cease-fire.
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Oil prices closed lower in New York trading on Wednesday for the first time in two weeks, down 39 US cents at $US49.51 a barrel, as concerns about Nigerian crude output eased and US oil inventories rose.
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NEW YORK - Oil fell back below US$50 on Thursday, resuming a downturn that has cut prices 11 per cent from record highs and ending a brief rally following President George W. Bush&#39;s US election victory.
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U.S. oil prices slid below $46 on  Tuesday, marking the third successive session of falls as Iraqi  exports returned to near normal, although supply uncertainties  kept the market close to historic levels.
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Oil prices ended above $50 a barrel amid concern over possible fighting between rebles and the military in Nigeria&#39;s oil-rich delta region.
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Crude oil futures prices fell Tuesday on growing expectations that a winter supply crisis will be averted and after union leaders cancelled a strike in major exporter Nigeria.
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Oil prices slid below the psychologically critical 50 dollar a barrel mark as tensions eased in Nigeria's southern oil heartland, where a rebel group fighting for control of the country's key resource said it had surrendered its weapons.
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Oil prices dipped below $46 on Tuesday in a third day of falls as a more optimistic Iraq export picture helped unwind some of the supply worries that have lifted the market to historic levels.
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Oil prices fall on news of Nigerian peace talks but analysts expect the price to remain close to the $50 mark.
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Oil prices pierced the $50-a-barrel  mark again on Friday amid concern over possible conflict in  Nigeria's oil-producing delta region, where a two-day truce  between rebel militia and government forces is holding.
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Oil prices ended above $50 a barrel on  Friday amid concern over possible fighting between rebels and  the military in Nigeria's oil-rich delta region.
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Oil prices plunged by more than $2 a barrel yesterday on hopes that the inauguration of a new president in OPEC member Nigeria would contribute to a stable supply from the Niger Delta region.
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Oil prices eased on Monday after  rebels in Nigeria withdrew a threat to target oil operations,  but lingering concerns over stretched supplies ahead of winter  kept prices close to $50 a barrel.
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Oil prices dropped sharply Monday, falling below $42 US per barrel, as last week&#39;s selloff continued despite sabotage of Iraqi oil infrastructure that curbed exports.
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U.S. oil prices slid below &#36;46 on Tuesday, marking the third successive session of falls as Iraqi exports returned to near normal, although supply uncertainties kept the market close to historic levels.
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NEW YORK - Oil prices closed above $50 a barrel for the first time in New York trading Friday, as traders fretted about Nigerian oil production amid a threatened rebel uprising.