Oil Falls as Concern Eases Over Disruption to Nigerian Supply
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Crude oil, which closed above $50 a barrel for the first time in New York on Friday, fell as concerns eased that Nigerian rebels may disrupt exports from Africa&#39;s biggest oil producer.
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Oil fell more than a dollar to below $62 a barrel on Monday as healthy fuel inventories in top consumer the United States countered plans by OPEC members Nigeria and Venezuela to trim output.
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Oil prices eased on Friday as OPEC looked set to keep output unchanged at its meeting this weekend, although concern ahead of Sunday's election in Iraq limited the fall.
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Oil prices dropped yesterday as traders apparently shrugged off worries about whether production cuts by two key producing nations were harbingers of further restrictions by OPEC members.
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NEW YORK : Crude oil prices showed a modest decline as fears that Hurricane Frances would disrupt US offshore oil production eased, analysts said.
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Oil's rally wavered on Thursday, but  worries over the security of Nigerian supply supported prices  despite an easier U.S. crude inventory picture and news that  Russia's YUKOS would resume full supply to China.
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Oil prices continued to sink on Thursday as supply worries eased further on hopes that a tentative peace deal with Iraqi Shi&#39;ite fighters will decrease the threat of disruption to the country&#39;s revived oil exports.
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Oil prices slid from record highs above $US50 a barrel Wednesday as the US government reported a surprise increase in crude stocks and rebels in Nigeria&#39;s oil-rich delta region agreed to a preliminary cease-fire.
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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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Oil fell on Monday, extending the past  three sessions' decline, as the growing threat of a U.S.  economic downturn outweighed supply worries in Iran and  Nigeria.
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Oil fell on Monday, extending the past three sessions' decline, as the growing threat of a U.S. economic downturn outweighed supply worries in Iran and Nigeria.
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Oil prices eased on Tuesday as fears of  supply disruptions in Venezuela and Russia receded following a  convincing referendum victory for Venezuelan President Hugo  Chavez and after Russia's YUKOS said it had received an  assurance on September exports.
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Oil prices slid towards $US49 a barrel, after United States crude stocks rose unexpectedly and rebels in Nigeria&#39;s oil- rich delta region agreed to a ceasefire with the Government, reducing an imminent threat to supplies.
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A general strike over a rise in fuel prices brought much of Nigeria to a standstill on Wednesday but oil supplies from Africa's top producer were initially unaffected.
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LONDON : Oil prices declined in opening deals as supply fears receded after Iraq resumed oil exports through its southern pipelines and speculative activity dwindled, analysts said.
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World oil prices fell Monday on easing supply fears, as crude exports from Iraq&#39;s southern pipelines resumed close to normal levels, analysts said.
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Oil prices fell again Thursday as worries over supply disruptions eased. New York light sweet crude ended the day just over $43, and OPEC president Purnomo Yusgiantoro said the cartel hoped