Oil Eases on Venezuela, Russia Optimism
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Oil prices eased on Tuesday as fears of  supply disruptions receded following a convincing referendum  victory in Venezuela for President Hugo Chavez and after  Russia's YUKOS said it had received a government assurance on  September exports.
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Oil prices ranged widely Monday, supported by Venezuelan President Hugo Chavez's threat to cut off sales to the United States
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Oil prices held steady on Tuesday,  supported by anxiety over Middle East and Russian supplies and  forecasts for a chillier first quarter in the United States  after a mild start to the winter.
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Red-hot oil prices cooled, easing below 50 dollars a barrel in New York after news of stronger-than-expected US inventories and oil in the United States and diminishing fears of unrest in Nigeria.
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World oil prices steadied with prices, underpinned by the US Atlantic hurricane season -- which threatens to damage energy facilities -- and expectations that OPEC will keep its output unchanged at a meeting next week, dealers said Wednesday.
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Oil eased from its record high on Friday as a hurricane subsided in the Gulf of Mexico and refineries looked set to return to normal operations.
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WASHINGTON -- Oil prices slipped yesterday after the president of Venezuela survived a recall referendum, though fears of potential supply interruptions in other parts of the world kept futures above $46 a barrel.
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World oil prices steadied today, as early supply jitters eased after a pipeline explosion in Iraq, the possibility of a production shutdown by Russian oil giant Yukos and a hurricane heading for Florida.
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Oil prices eased on Monday after  rebels in Nigeria withdrew a threat to target oil operations,  but lingering concerns over stretched supplies ahead of winter  kept prices close to $50.
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Venezuela softened its tone on Tuesday over a threat to stop oil sales to America, with a top official saying a supply cut would be undesirable a day after world oil prices rose due to President Hugo Chavez's warning.
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Investors will watch for oil news from Russia and Iraq next week, but skepticism that crude prices can stay sky-high is growing and a break in the energy market would fuel a rally in U.S. stock markets.
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Aug. 17 (Bloomberg) -- Crude oil futures fell for a second day after a Russian state railway official said shipments of Yukos Oil Co. oil would continue and Venezuelan President Hugo Chavez won a recall vote.
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Oil eased below $70 a barrel on Friday   on expectations of a long delay before the United Nations   decides on sanctions against Iran, the world's fourth-largest   oil exporter.
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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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LONDON SEPTEMBER 6: Oil prices eased on Monday as speculative funds continued to take profits but a tight global supply picture stopped the selling from gaining much momentum.
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Meeting with visiting Venezuelan President Hugo Chavez, Russian President Vladimir Putin Friday said &quot;Russia and Venezuela are large oil producers.
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Oil eased near $60 on Wednesday  following big gains the previous day spurred by disruption of  Alaskan crude exports and ahead of U.S. government data  expected to show declining stocks of heating and transport  fuels.