Oil Prices Change Direction
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After a month-long rally that repeatedly pushed oil prices to new highs, the cost of a barrel slumped for the fourth day in a row, dropping by nearly $2 to below $44.
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World oil prices slipped on Thursday as  dealers began to take profits from the week's Hurricane  Ivan-inspired gains, betting that the worst of the storm's  disruption had been factored into prices.
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OIL prices retreated in New York and rose marginally in London today as worries about the impact of Hurricane Frances subsided. New York&#39;s reference contract, light sweet crude for October delivery, tumbled
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Oil prices have moved above $54 a barrel after the government reported a decline in the supply of distillate fuel, which includes heating oil.
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Oil prices rose amid expectations a report will show U.S. crude stockpiles fell last week to post the seventh straight decline in inventories for the worldâs largest energy consumer.
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Oilâs $100-a-barrel price flirtation suggests that traders will see more of the escalation in energy markets that marked the final months of 2007.
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Oil prices extended their slide Friday on a growing sentiment that the country might be headed for a recession that would depress demand for oil.
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: Oil prices searched for direction today, supported by worries of a cold snap in the Western Hemisphere but weakened by selling on the bet that OPEC&#39;s decision to cut production would not end short-term oversupply.
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High oil prices, which have een a factor in virtually all US recessions over the past three decades, are surging again this year. And the higher crude oil prices climb, the more risk energy
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London - Oil prices climbed on Thursday, reversing some of the losses seen late the previous day as disruption to production in the Gulf of Mexico continued due to Hurricane Ivan.
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Oil prices made fresh gains on Friday after leaping almost $2 a day earlier the US government said crude stocks sank for the sixth straight week last week and distillate fuels barely grew ahead of winter.
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Oil prices dropped sharply today in what traders called a wave of profit-taking sparked by a steep drop in gasoline futures. In afternoon trading, November crude futures traded at US$53.
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NEW YORK, November 3  - World crude oil prices witnessed significant volatility today on news of John Kerry conceding the US presidential elections, rising above the $50 per barrel mark.
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Oil prices have fallen as much as $16   from their peaks, their steepest reversal in 16 years, in a   correction that traders say may be harder to shake off than   past setbacks over the market's four-year rally.
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The higher inflation rate was the result of a surge in oil prices early this year. Oil prices have since leveled off, allowing the inflation rate to return to more modest levels.
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Oil prices have fallen as much as $16   from their peaks, their steepest reversal in 16 years, in a   correction that traders say may be harder to shake off than   past setbacks in the market's four-year rally.
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Oil prices fluctuated Thursday, supported by forecasts that OPEC oil shipments are falling and pressured by concerns about the economy.