Oil hovers around $68 in post-summer driving lull
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Oil prices fell back below $68 a barrel   on Wednesday to near this week's three and a half month low   after the end of the U.S. driving season helped to remove any   lingering concerns of supply shortage.
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After a dismal start to summer, August looked a little brighter for the auto industry despite continuing concern over high gas prices and turbulence in the housing and financial markets.
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Those not attuned to the finer points of the oil market may have missed a shift in the rankings over the summer.
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Oil prices eased on Tuesday, as  Middle East cyclone fears waned, but concerns over gasoline  supply in the United States kept crude above the $70 mark.
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Oil prices have stepped back from this week&#39;s eight percent rout, holding well above $50 a barrel as analysts say it will take more than China&#39;s mild interest rate rise
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(Camarillo, California-AP) Dec. 6, 2004 - The Lundberg Servey says gas prices have dipped nationwide over the past two weeks. The survey cites an increase in crude oil supplies combined with the recovery of US offshore oil production after Hurricane Ivan.
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Oil prices slipped under $66 on  Monday, adding to last week's slide on an improved U.S. supply  picture and signs of easing tension over Iran's nuclear  program.
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NEW YORK: Oil dropped below $50 a barrel last night to the lowest price in more than a month, extending a $6 slide from recent peaks as the US presidential election got underway.
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Oil rebounded above $66 a barrel on   Tuesday, with bargain-hunting traders ending a six-day retreat   after Iran sounded a softer note on its atomic program and OPEC   agreed to keep production steady for now.
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U.S. oil prices hovered just below &#36;50 a barrel on Tuesday, holding recent gains on a rash of crude supply outages and fears over thin heating oil tanks.
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Financial markets breathed a sigh of relief last week as the price of oil eased from the record $50-a-barrel level. Drivers will be next to rejoice when gas prices come down, as expected, once the Labor Day weekend ends.
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Oil prices flirted with $46 a barrel  on Tuesday, firming on forecasts of a cold spell bearing down  on the U.S. Northeast heating oil market and continued supply  problems from big global producers.
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U.S. average retail gasoline prices  rose more than 6 cents a gallon in the last two weeks, but  further increases are likely to be modest in the short term  unless OPEC cuts production again, according to an industry  analyst.
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Oil prices rebounded to above $66 a  barrel on Tuesday, with bargain-hunting traders ending a  six-day retreat after Iran sounded a softer note on its atomic  program and OPEC agreed to keep production steady for now.
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The busy U.S. summer driving season  ended on a positive note for consumers as gasoline prices fell  to their lowest in more than four months, dropping for the  second week in a row, the government said on Tuesday.
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Oil prices climbed above $62 a barrel yesterday as colder weather drifted eastward across the United States and after government data showed shrinking supplies of crude, gasoline, and heating oil.
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Oil fell toward $61 Tuesday on robust   U.S. inventories ahead of the winter heating season, but   producer group OPEC said the price slide from peaks this summer   had gone far enough.