Crude futures drop under $43
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SAN FRANCISCO (CBS.MW) -- Crude futures prices fell as much as 5 percent Friday to trade under $43 a barrel, with most traders betting that Hurricane Ivan won&#39;t hurt output in the Gulf of Mexico and OPEC will agree to raise its production quota next week.
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Oil futures prices sank to their lowest level in nearly a month Monday on a continuation of the selloff sparked last week by rising US supplies of crude and easing fears about the refining industry&#39;s ability to satisfy heating oil demand.
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Crude oil futures continued to retreat from record levels of more than $54 US a barrel Wednesday as traders nervously monitored developments in strike-hit Nigeria and recovery efforts in the Gulf of Mexico.
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Crude futures prices fell yesterday, briefly sinking below $49 US a barrel, as the US supply of oil grows and traders said institutional investors shifted their capital from commodities to equities.
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Crude oil futures fell for a third session, dropping as low as $45.35 a barrel, as increased Iraqi shipments signaled that supplies may be adequate to meet global demand.
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Crude oil futures prices dropped below $51 a barrel yesterday as supply concerns ahead of the Northern Hemisphere winter eased after an unexpectedly high rise in US inventories.
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The two-day decline in oil prices, with crude futures briefly dipping below $53 a barrel yesterday, is a temporary trend that is likely to reverse itself before too long, analysts and traders said.
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A decline in the nation's inventory of heating oil catapulted crude futures prices toward $55 a barrel today.
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Oil futures prices sank nearly 5 percent Wednesday, dropping below $53 a barrel, as concerns about tight winter fuel supplies eased, at least temporarily, and traders turned their attention to rising US inventories of crude.
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Oil futures prices sank below $50 a barrel Monday, continuing the selloff sparked last week by rising US supplies of crude and easing fears about the refining industry&#39;s ability to satisfy heating oil demand.
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Benchmark light, sweet crude oil futures for January dropped as much as 93 cents in early trading today in New York to last week&#39;s low of US$42.05 a barrel.
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U.S. stock index futures pointed to a weaker market open on Tuesday, with crude oil extending a decline and likely to weigh on energy stocks, while technology stocks may stumble after a chip maker warned about earnings.
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SAN FRANCISCO (CBS.MW) -- Futures for crude oil dropped almost 7 percent Monday, sending the benchmark contract to its lowest level in nearly four months amid growing domestic inventories and expectations for milder winter weather in the United States.
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CRUDE oil futures eased below $US46 a barrel in Asia today as traders awaited the weekly US crude inventory report, which has helped bring down prices in recent weeks by showing a recovery in supplies.
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Rarely has the oil price fallen so far so fast. Crude futures have dropped more than 15 per cent in only four sessions sending prices to three month lows.
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Crude oil futures fell more than $1 a barrel yesterday to their lowest level in more than a month as traders took cues from OPEC officials signaling their willingness to accept lower prices before cutting output.
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NEW YORK -- Oil prices plummeted below $44 a barrel yesterday, sinking for the fourth consecutive day, as supply fears receded, gasoline futures plunged and profit- taking took over.