Oil at 3-Month Low, Off $8 in 7 Sessions
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Oil prices hit a new three-month low on Wednesday as mild winter weather in the United States and expectations of a rise in heating fuel stocks kept downward pressure on the market.
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Oil dropped nearly 3.5 percent to below $58 on Monday as OPEC members including Saudi Arabia signaled the group would probably keep output stable when it meets in March and as U.S. winter supply concerns eased.
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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 prices fell Monday, nearing a  7-week low just under $47 a barrel, as growing fuel stocks in  the United States eased fears of a winter supply crunch despite  a cold snap in North America at the weekend.
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Oil fell below $77 a barrel on Monday as some funds booked profits after OPEC expressed concern over near-record prices and pledged to pump more crude if needed.
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Oil prices fell 3.5 percent to a  three-month low on Tuesday as mild winter weather sapped demand  in the U.S. Northeast, the world's largest heating oil market.
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Oil prices fell to seven-week lows below $47 a barrel on Wednesday as traders braced for another increase in US oil and natural gas inventories.
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Oil prices fell to around $68 a barrel   on Wednesday, just off a three and a half month low struck the   previous session and above key support levels that, if broken,   could trigger a deeper selloff.
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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 prices fell to seven-week lows near $47 a barrel on Wednesday as traders braced for another increase in US oil and gas inventories.
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Oil edged lower towards $77 a barrel on Monday, with the market keenly watching the actions of funds after OPEC expressed concern over near record prices and pledged to pump more crude if needed.
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Oil prices ticked lower on Thursday  for the third day in a row as rising U.S. gasoline supplies  countered a surprise drop in crude inventories in the world's  largest energy consumer.
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Crude oil futures closed below 48 dollars a barrel Tuesday, the lowest level in seven weeks amid rising expectations about US oil supply for this winter.
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NEW YORK - Oil prices recovered from seven-week lows on Wednesday, surging more than 3 per cent as a drawdown in US heating fuel stocks rekindled worries about thin supplies ahead of the northern winter.
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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 fell below $88 a barrel on Wednesday  as stock markets declined further, 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 prices ticked lower on Thursday for the third day in a row as rising U.S. gasoline supplies countered a surprise drop in crude inventories in the world's largest energy consumer.