Oil Below $50 Deepening $5 Fall
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US oil prices hovered below $50 a barrel on Tuesday, deepening a week-long $5 slump after some traders cashed in profits from this year&#39;s record-breaking rally ahead of the US presidential election.
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Crude oil futures briefly surpassed $50 a barrel Tuesday before closing lower amid concerns about low US heating oil inventories ahead of winter.
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Oil fell by more than a dollar toward  &#36;68 a barrel on Friday, close to a five-week low, as renewed  concern about rising inflation and slower economic growth  prompted selling across commodity markets.
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Oil futures prices sank nearly 5 percent yesterday, dropping below $53 a barrel, as concerns about tight winter-fuel supplies eased, at least temporarily, and traders turned their attention to rising US inventories of crude.
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Oil prices slid to a five-week low on  Friday, continuing a downturn that has slashed almost 13  percent from record highs as rising stockpiles have eased  worries of a winter supply crunch.
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OIL prices eased further below $50 a barrel yesterday, extending a week-long bout of profit-taking that has cut more than $5 from record-high crude ahead of the US presidential election.
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Oil prices slipped to their lowest level   in five months before rebounding on Thursday as dealers took   pause from a three-day decline ahead of U.S. data expected to   show healthy crude stocks and rising distillate inventories.
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LONDON  - Oil prices continued their retreat, dipping below 50 dollars in New York as Americans voted in a presidential election expected to send ripples through oil markets.
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US oil prices drifted below $50 a barrel on Tuesday, extending a week-long slump that has shaved more than $5 off record-high prices as some traders cashed in profits ahead of the US presidential election.
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Oil prices fell to their lowest in five   months before steadying on Thursday, pausing from a three-day   decline as dealers zeroed in on healthy U.S. inventories   heading into the mild autumn demand season.
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Oil prices slipped further below $55  a barrel on Tuesday, breathing easier after a Norwegian strike  threat receded but still anxious over the thin state of  pre-winter heating oil supplies.
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Crude oil prices slipped yesterday, falling to a five-month low after an inventory report showed that higher refinery production was helping boost US gasoline and distillate inventories.
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NEW YORK - Oil fell back below US$50 on Thursday, resuming a downturn that has cut prices 11 per cent from record highs and ending a brief rally following President George W. Bush&#39;s US election victory.
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Oil prices fell to a fresh five-month  low on Monday as a bout of fund-led selling countered a cut to  supplies by top OPEC exporter Saudi Arabia.
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Crude oil&#39;s five-day plunge last week after failing to reach US$50 a barrel convinced more traders and analysts that the price will continue to fall, according to a Bloomberg News survey.
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LONDON : World oil prices tumbled more than two dollars in New York, sliding below 50 dollars for the first time in nearly a month amid reports of higher Iraqi oil exports and easing fears over a Nigerian strike, analysts said.
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Oil prices fell 3.5 percent to a three-month low Tuesday as mild winter weather sapped heating oil demand in the US Northeast. US light crude settled down $1.52 at $41.46 a barrel, the