Oil Prices Halt Three-Day Losing Streak
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Oil prices rose modestly today, halting a three-day losing streak on profit-taking from record highs near $50 a barrel.
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Oil prices recovered to above $93 a barrel on Monday, after declining for the past three sessions, as violence in Nigeria and tensions in Iran countered worries of economic downturn in the United States.
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Oil prices retreated Tuesday as traders took profits from three straight sessions of gains and awaited a weekly US government energy report expected to show a rise in crude inventories.
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NEW YORK, December 2  - Crude oil prices declined for the third consecutive day today, reaching their lowest levels in 11weeks, on news of rising US fuel inventories and a less severe winter in various parts of the country.
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Oil prices fell about 3 percent on  Wednesday after U.S. crude supply rose while distillate fuel's  slip in inventory was within market expectations.
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Crude oil was little changed in London after a three-day slump fueled by the biggest rise in US fuel inventories in four months. Oil prices in London had fallen about $5 a barrel since
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Oil steadied near $93 a barrel on Monday after three sessions of losses, as violence in Nigeria and tensions involving Iran countered worries oil demand could be hit in a global economic downturn.
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Oil halted a three-day slide to rise above $97 a barrel on Tuesday, lifted by a threat of violence in Nigeria's oil region and expectations of a further drop in crude stocks in top consumer the United States.
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LONDON : World oil prices retreated as they were unable to recover heavy losses caused by profit-taking ahead of the US presidential election.
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London oil prices fell briefly through  $40 on Thursday for the first time in three weeks, extending  four sessions of heavy losses made as renewed exports from Iraq  and higher-than-expected U.S. gasoline inventories encouraged  big-money funds to take profits.
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Oil prices ebbed on Monday after three days of gains as a major U.S. gasoline pipeline resumed pumping and some Nigerian militants called a one-month truce, although analysts saw little to suggest an end to 18 months of violence.
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Oil prices fell more than 3 percent on  Monday as forecasts of a return to mild winter weather in the  United States eased fears that thin heating fuel stockpiles  could prove inadequate.
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Oil prices dipped below $46 on Tuesday in a third day of falls as a more optimistic Iraq export picture helped unwind some of the supply worries that have lifted the market to historic levels.
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London - Oil prices edged lower on Friday after a two-day rout that saw the value of crude drop 12 percent amid easing fears over a northern winter supply shortage, traders said.
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Oil prices receded on Friday as dealers took profits from a record rally over $90 a barrel that was spurred on by winter supply worries and the weakening U.S. dollar.
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Oil prices fell for a third day on Tuesday on expectations of rising fuel stockpiles in the United States and after OPEC vowed to pump more crude if needed.
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Oil prices dropped more than 3 percent   on Tuesday, resuming the steepest slide in more than a decade   as high inventories eased supply worries ahead of winter and   countered concern over simmering geopolitical tensions.