Mild U.S. Weather Bites Into Oil Prices
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U.S. crude futures skidded more than half a dollar lower on Monday, as a mild New Year's weekend in the United States and forecasts for above-average temperatures were expected to cap heating oil demand, traders said.
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Oil futures retreated below $50 a barrel yesterday, though analysts said there is enough uncertainty about geopolitics and weather -- and the industry&#39;s
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LONDON - Oil prices have fallen after forecasts of mild US weather prompted traders to take profits from a rally that has added over 30 per cent to the cost of crude this year.
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Oil prices held steady near 7-week lows  on Friday on forecasts for colder-than-normal weather in the  U.S. Northeast.
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Oil fell below $93 per barrel Monday in thin trade as mild weather swept across the key heating regions of the United States, cutting fuel demand.
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Oil futures dipped below $46 a barrel yesterday as traders assessed what appeared to be a short-lived cold snap in the United States, where cold weather and tight heating oil supplies helped drive prices higher last week.
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Oil prices steadied above &#36;48 a barrel on Wednesday as a cold snap in the U.S. Northeast overshadowed an expected build in crude and product inventories.
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U.S. oil prices hovered just below &#36;50 a barrel on Tuesday, holding recent gains on a rash of crude supply outages and fears over thin heating oil tanks.
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Oil prices rose modestly on Tuesday  following Monday's 6 percent slide on rising U.S. stockpiles  and expected warmer winter weather.
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Oil prices fell slightly on Wednesday  ahead of an expected build in U.S. crude and product  inventories, but remained strong above $48 a barrel on colder  weather in the northern hemisphere.
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U.S. oil prices hovered near $47 a  barrel on Wednesday, awaiting data that was expected to show a  big drop in fuel stocks in the United States due to  weather-related disruptions to output and shipments.
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Oil prices slid 3 percent on Monday on  expectations that more mild U.S. weather at the start of the  New Year will limit heating oil demand.
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U.S. oil prices touched a new  three-month low on Wednesday as mild winter weather in the  United States and expectations of a rise in heating fuel stocks  kept the downward pressure on the market.
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U.S. oil prices hovered just below  $50 a barrel on Tuesday, holding recent gains on a rash of  crude supply outages and fears over thin heating oil tanks.
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Crude futures fell more than $1 a barrel yesterday amid mild weather in the US Northeast on the first trading day of the new year.
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Oil prices settled just below $57 a barrel yesterday -- a gain of almost $3 -- and natural gas soared more than 11 percent on expectations of more Arctic weather in the United States.
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Oil prices eased on Tuesday as milder  weather in the immediate term quelled concerns about thin fuel  stocks, though the market remained nervous about possible  supply disruption in the Middle East and Russia.