Oil Drops on Fund Selling
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Oil prices fell to a fresh five-month low on Monday as a bout of fund-led selling countered a cut to supplies by top OPEC exporter Saudi Arabia.
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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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Oil prices steadied on Monday as OPEC member Saudi Arabia cut exports, helping to pull the market back from a five-month low hit earlier amid a bout of fund selling.
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Blue chips ended lower yesterday as a drop in oil prices hit energy shares and buyers took profits after a series of record-high closes.
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Stocks declined on Monday, pressured by losses in shares of energy companies after a nearly 4 percent drop in oil prices.
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World oil prices fell on Thursday as  dealers began to take profits from the week's Hurricane  Ivan-inspired gains, betting that the worst of the storm's  disruption had been factored into prices.
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Oil prices steadied on Monday as OPEC  member Saudi Arabia cut exports, helping to pull the market  back from a five-month low hit earlier amid a bout of fund  selling.
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LONDON : Oil prices slid for a third day running as speculators banked profits ahead of next week&#39;s US presidential election amid easing supply fears and China&#39;s move to hike interest rates, analysts said.
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Oil dropped more than two dollars on  Friday, weakened by selling in equity markets that raised  doubts over energy demand and after a storm that halted exports  from Oman lost power.
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Oil fell to $87 on Wednesday after a  larger-than-expected build in U.S. crude stocks and growing  fears of a U.S. recession.
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U.S. stock futures slipped on Tuesday, indicating an opening fall on Wall Street, with energy shares set to be hit but the broader market supported by crude's continued fall.
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Oil fell below $60 on Friday as investors doubted OPEC's resolve to carry out supply cuts and focused instead on brimming fuel stockpiles in top consumer the United States.
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World oil prices slipped on Thursday as  dealers began to take profits from the week's Hurricane  Ivan-inspired gains, betting that the worst of the storm's  disruption had been factored into prices.
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Oil prices tumbled to an 11-week low  below $44 a barrel on Thursday, deepening a dramatic slide  after an increase in U.S. heating oil stocks triggered heavy  selling from big-money speculative funds.
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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 fell below $88 on Monday as financial markets tumbled on fresh concerns over the health of the U.S. economy.
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Even though oil prices fell by more than $3 a barrel, stock investors hunkered down amid expectations that the Fed will cut interest rates by a quarter-point on Wednesday.