Oil Prices Change Direction
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After a month-long rally that repeatedly pushed oil prices to new highs, the cost of a barrel slumped for the fourth day in a row, dropping by nearly $2 to below $44.
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Crude oil prices fell by $2.01 to $49.75 per barrel in morning trading on the New York Mercantile Exchange. Oil prices retreated from record closing prices last week, after the US government
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Where does the volatility in oil prices come from, and is it likely to persist?
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Where does the volatility in oil prices come from and is it likely to persist?
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By George Chamberlin , Daily Transcript Financial Correspondent. A big drop in oil prices helped stock prices move higher Wednesday.
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High oil prices, which have been a factor in virtually all U.S. recessions over the past three decades, are surging again this year. And the higher crude oil prices climb, the more risk energy costs pose to what, until recently, many expected to be a banner year for the U.S. economy.
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PARIS : The heat has gone out of the underlying forces in the oil market and only short-term factors are keeping the oil price at about 40 dollars per barrel, the International Energy Agency (IEA) concluded.
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Oil prices bounced higher Friday after two days of sharp declines. Prices rose as traders sought to protect themselves in the event of a supply disruption before Monday.
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The sharp rise in oil prices which recently creeps towards $60 per barrel has put many energy industries and those reliant on energy on the edge for fear of the adverse affects of escalating prices.
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Oil prices dropped further from record  highs on Monday, as easing concern about winter supplies  prompted big-money hedge funds to switch money away from oil  and into other financial markets.
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OIL prices retreated in New York and rose marginally in London today as worries about the impact of Hurricane Frances subsided. New York&#39;s reference contract, light sweet crude for October delivery, tumbled
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Oil markets were little changed Wednesday but prices appeared positioned for an increase as traders traced the path of the strongest storm to hit the Arabian Peninsula in 60 years.
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Oil prices above $50 a barrel - and rising - are now starting to adversely affect the economy and consumers in ways that had not been happening only a few months ago.
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Those not attuned to the finer points of the oil market may have missed a shift in the rankings over the summer.
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Oil prices rose amid expectations a report will show U.S. crude stockpiles fell last week to post the seventh straight decline in inventories for the worldâs largest energy consumer.
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Oil prices have fallen as much as $16   from their peaks, their steepest reversal in 16 years, in a   correction that traders say may be harder to shake off than   past setbacks over the market's four-year rally.
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LONDON : Oil prices rose slightly a day after renewed concerns over heating oil stocks in the United States brought a halt, even if temporary, to a sharp slide in prices in recent weeks.