Oil Down More Than $2 as Supplies Swell
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Oil fell more than $2 on Thursday, resuming a downturn that has slashed 12 percent from record highs as growing stockpiles ease worries of a crunch ahead of the Northern Hemisphere winter.
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Crude futures sold off sharply for a second day in row Thursday, falling below $44 a barrel, as traders focused on rising fuel supplies and the lack of cold weather. The drop to two-month lows triggered an additional wave of technical and speculative selling, traders said.
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Oil prices fell Wednesday after the government reported that US inventories of crude rose 3.4 million barrels last week, surprising many traders and analysts who had expected to see supplies shrink because of lingering output problems
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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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Oil fell nearly $2 a barrel on Wednesday  after a U.S. government report showed larger-than-expected  increases in crude and gasoline stockpiles in the world&#39;s  biggest consumer.
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Oil prices fell nearly $2 to just over  $43 on Wednesday, dragged down by heavy losses in U.S. gasoline  futures after summer driving demand failed to meet  expectations.
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Oil prices surged nearly $2 a barrel yesterday following two bombings in the capital of Saudi Arabia and after the US government reported that winter fuel supplies shrank last week.
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Oil prices fell on Thursday on expectations that the United States might loan some crude to U.S. refiners from its strategic petroleum reserve after weather-related disruptions led to a big dip in supplies.
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Oil prices edged lower on Thursday,  adding to a near 2 percent sell off the previous day caused by  a smaller-than-expected drop in U.S. heating fuel inventories.
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Oil prices ended in negative territory  on Monday after dealers took profits from a nearly $2 surge  that had been triggered by export disruptions in Iraq and the  North Sea.
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Crude-oil futures surged almost $2 a barrel, the biggest increase in two months, after the Energy Department reported that US oil supplies declined more than expected.
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Oil prices fell more than a dollar to  under $43 a barrel on Monday as unusually mild winter weather  in the United States eased fears that thin heating fuel  stockpiles could prove inadequate.
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Oil prices dropped to 2-month lows on  Monday, with U.S. crude falling near $45 a barrel before paring  losses in late trade, as growing fuel stocks in the United  States eased fears of a winter supply crunch.
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Oil futures prices plunged by more than $2 a barrel Thursday, continuing a sell-off that began last week amid rising US supplies of crude and expectations of a surge in heating oil production before winter arrives.
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Oil prices slid on Thursday after a  bigger-than-expected rise in U.S. fuel inventories soothed  worries of a winter squeeze.
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Oil extended its retreat on Thursday,  taking two-day losses to 6 percent after an unexpectedly large  rise in U.S. crude inventories spurred speculative funds to  take profits out of record high prices.
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World oil prices fell nearly $2 a  barrel on Friday as dealers took profits from a recent rally,  but the market remained on edge as powerful Hurricane Ivan  thrashed through the Caribbean on a track toward the  energy-rich Gulf of Mexico.