Oil recoils after breaking $100 a barrel
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Oil fell on Thursday as traders took profits from a record rally that had pushed oil to $100 a barrel two days in a row -- a level that has raised a red flag over global economic growth.
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Oil held steady on Friday, hovering at about $99 a barrel, after falling the day before as traders took profits from a record rally that saw crude prices spike to over $100 a barrel.
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Oil prices dipped on Thursday, after jumping to a lifetime high of $100 the day before, fuelled by expectations of thinning U.S. stockpiles, the falling dollar and geopolitical risks.
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U.S. crude oil futures hit a record $100 a barrel on Wednesday, surging more than $4 as violence in OPEC members Nigeria and Algeria combined with a weak dollar and a cold snap to boost crude futures.
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Oil held near its lifetime high of $100 a barrel on Thursday, fuelled by expectations of another fall in U.S. fuel stocks and a struggling dollar.
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Oil prices broke above $100 a barrel for the first time on Thursday, after a U.S. government report showed a steep slide in crude inventories in the world's biggest energy consumer.
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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.
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Oil prices dipped on Thursday after  leaping to a lifetime high of $100 the day before amid a  new-year rush of investor demand fuelled by expectations of  thinning U.S. stockpiles, the falling U.S. dollar and  geopolitical risks.
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Stocks plunged on the first trading day of 2008 on Wednesday after oil hit $100 a barrel and U.S. manufacturing data showed signs of contraction, raising fears the economy may be heading into recession.
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Oil steadied on Friday at around $59 a barrel in trade muted by the long U.S. Thanksgiving holiday weekend, after tumbling on a rise in stockpiles in top oil consumer the United States.
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Now that the price of crude oil has crossed the $100-a-barrel threshold, and then retreated slightly, what direction will it take now?
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Oil retreated further from the $100 a barrel mark on Friday as gloomy U.S. jobs data heightened concern over the health of the U.S. economy.
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Business & money: US crude oil prices hit the psychological barrier of $100 a barrel for the first time today
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A barrel of oil for delivery in February trades at $100 on the New York Mercantile Exchange for the first time.
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Business & money: Violent storms in the North Sea helped push global oil prices to new highs of just under $100 per barrel.
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Stocks fell on Tuesday as crude oil prices rose to a record above $100 a barrel, erasing an earlier rally on concern that higher energy costs could fan inflation and crimp consumer spending and profits.
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Oil  breaches the $81 a barrel mark on worries about rising demand amid constrained supply.