Light crude slips back
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US OIL prices fell further yesterday on continued profit-taking as producer-group OPEC promised production increases in the coming months.
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The price of crude oil fell for a third straight day on Friday, sliding back toward the US$50 mark after a surprising midweek US petroleum stocks report and China&#39;s latest moves to cool its economy.
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OIL prices eased, trimming gains from a US$1 rally the previous day following President George Bushâs US election victory. US light crude eased 19 cents to $50.
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Oil prices held firm on Friday after leaping almost $2 a day earlier on news US crude stocks sank to a five-month low last week and distillate fuels barely grew ahead of winter.
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The price of crude oil ends slips back  below $50 but unease remains over tensions in Nigeria's southern region.
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Oil hovered below $58 a barrel on Tuesday, after it slid $2 the previous day on signs OPEC will keep output stable when it meets in March.
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Crude oil futures briefly dipped below $60 a barrel yesterday, then jumped by more than $1 in a sign that the recent free-fall may be nearing an end.
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Oil prices have stepped back from this week&#39;s eight percent rout, holding well above $50 a barrel as analysts say it will take more than China&#39;s mild interest rate rise
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Oil slid for a third day on Wednesday, but stayed within in a narrow range below $60 a barrel and lacked the impetus to break out in either direction.
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Crude oil prices have dipped in New York, sliding as much as two dollars to around $50 a barrel. That&#39;s extending declines seen last week despite concerns that a planned strike in Nigeria could affect output.
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Oil slipped below $75 on Wednesday but remained within sight of an all-time high ahead of U.S. data expected to show a further tightening of crude stocks in the world's top consumer.
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Oil prices pulled further back from  the brink of $100 a barrel on Thursday after fresh signs of  weak U.S. oil demand and a Wall Street slump fuelled  profit-taking from a near 40 percent rally in under three  months.
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Oil prices held firm on Friday after leaping almost &#36;2 a day earlier on news U.S. crude stocks sank to a five-month low last week and distillate fuels barely grew ahead of winter.
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Oil prices Monday scaled back following  last week's sharp gains but found support near $46 for U.S.  crude after Russian oil company YUKOS defaulted on some crude  exports.
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Supermarkets are leading the way as petrol costs fall on the back of a slip in crude oil prices.
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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 prices slid on Monday, drifting toward $90 a barrel as a weak close on Wall Street spurred some profit taking, although expectations that OPEC will maintain its production curbs this week limited losses.