Oil Extends Falls, Supply Fears Dissipate
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Oil prices eased further on Tuesday, as  the head of the OPEC cartel said markets were well-supplied  with crude and traders continued to take profits from this  year's 40 percent rally.
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Crude oil futures fell in New York, extending the biggest decline in five months yesterday, after a jump in US inventories eased concern about a winter shortage.
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Oil extended its retreat on Thursday, taking two-day losses to 6 percent after an unexpectedly large rise in US crude inventories spurred speculative funds to take profits out of record high prices.
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Crude futures drifted lower Thursday extending steep overnight falls that came as the US government reported a surprise increase in stocks of oil and distillates, allaying fears of a winter supply crunch.
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Oil prices continued falling on  Thursday after an unexpectedly large rise in U.S. crude  inventories spurred profit-taking from record highs.
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Oil prices eased on Monday as  speculative funds continued to take profits but a tight global  supply picture stopped the selling from gaining much momentum.
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Oil extended losses for the seventh   consecutive session on Tuesday, retreating to under $65 a   barrel after Iran sounded a softer note on its atomic program   and OPEC agreed to keep production steady for now.
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Oil prices on Monday extended a retreat from record highs after tropical storm Ingrid faded in the Atlantic over the weekend, soothing fears it could hit Gulf of Mexico crude production and refining.
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Oil prices slid more than a dollar to  7-week lows on Tuesday as growing signs of ample supply eased  concerns over fuel stocks for the northern winter.
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Oil prices slipped on Monday but held above $49 a barrel as easing concerns about a winter supply crunch pulled the market further away from record highs set two weeks ago.
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Oil prices fell on Monday, extending the  previous session&#39;s decline, after remarks by oil producer group  OPEC that it was concerned about the potential impact of high  oil prices on the global economy.
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Oil prices fell Wednesday morning after government data showed that the nation&#39;s crude supply grew for the second week in a row.
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Oil prices continue to slide amid fears that a US recession will weaken global demand for crude.
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Oil prices eased to &#36;45 a barrel on Tuesday, extending a profit-taking set-back despite a looming cold spell in the eastern United States and global supply outages.
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Oil prices eased further on Thursday,  deepening the previous day's three percent slump after a  surprise increase in U.S. fuel stocks eased worries about  meeting peak winter demand.
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Oil prices fell Wednesday after the government reported that US inventories of crude rose 3.4 million barrels last week, surprising many traders and analysts who had expected to see supplies shrink because of lingering output problems
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WASHINGTON: Oil prices retreated slightly yesterday after surpassing $54 a barrel amid nagging concerns in the market that the global supply buffer is too thin to handle a significant output disruption.