Oil Finishes Week Below $50 Per Barrel
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Crude futures prices fell slightly on Friday, capping off a 5 percent decline from a week ago, as worries about low winter fuel inventories dissipate amid rising oil supplies.
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Oil prices charged toward $50 a barrel Monday as petroleum output in the Gulf of Mexico returns at a slower-than-expected rate in the aftermath of Hurricane Ivan and geopolitical unrest keeps traders on edge.
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Crude oil surpassed $50 a barrel and was close to a record in New York after hurricanes in the Gulf of Mexico curbed US production for more than three weeks, slowing the accumulation of supplies to meet winter needs.
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Oil prices edged lower on Wednesday,  keeping within sight of $50 a barrel on supply worries in the  United States, where weekly data is expected to show a draw in  distillate inventories.
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US oil prices fell further below $50 a barrel on Tuesday, adding to a week-long slide that has cut more than $5 off record-high prices, as some traders cashed in profits ahead of the US presidential election.
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London Brent crude slid below $58 on Tuesday but remained in a $57-$60 a barrel range that has defined the market for the past three weeks.
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WASHINGTON -- Oil prices inched closer to $50 a barrel yesterday even as the Bush administration offered to tap the nation's emergency stockpile of crude on behalf of refiners whose supply was disrupted by Hurricane Ivan.
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Oil prices fell to a four-week low yesterday, briefly dropping below $50 a barrel, as traders grew less concerned about possible threats to supplies.
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OIL prices eased further below $50 a barrel yesterday, extending a week-long bout of profit-taking that has cut more than $5 from record-high crude ahead of the US presidential election.
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Oil prices have fallen further below $50 a barrel as, with the result of the US presidential elections still difficult to predict, traders cashed in positions.
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Oil prices hugged $50 a barrel on Wednesday on worries of potential supply disruptions and with US crude inventories expected to fall due to the lingering effects of Hurricane Ivan.
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By Malcolm Moore, Economics Correspondent (Filed: 21/08/2004). The price of oil came close to $50 a barrel in New York yesterday, as fighting between US forces and Moqtada al-Sadr&#39;s militia in Iraq continued to inflame the market.
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Crude oil surpassed $50 a barrel and was close to a record in New York as US production in the Gulf of Mexico took longer than expected to recover, slowing the buildup of inventories to meet winter needs.
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Oil prices edged lower in thin early  trade on Wednesday, keeping within sight of $50 a barrel on  supply worries in the United States, where weekly data is  expected to show a draw in distillate inventories.
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NEW YORK - Oil fell back below US$50 on Thursday, resuming a downturn that has cut prices 11 per cent from record highs and ending a brief rally following President George W. Bush&#39;s US election victory.
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Oil prices slid nearly $2 a barrel to  end at 7-week lows on Tuesday, as growing signs of ample supply  eased concerns over fuel stocks for the northern winter.
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Brent hits 3-week low as Sistani enters Najaf with peace plan, big-money funds take profits. SINGAPORE  - US light crude prices fell below $43 a barrel Thursday, extending heavy losses to a fifth