Oil Finishes Week Below $50 Per Barrel
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Crude futures prices fell slightly on Friday, capping off a 5 percent decline from a week ago, as worries about low winter fuel inventories dissipate amid rising oil supplies.
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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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The price of oil sank for the fourth consecutive day yesterday amid profit taking and easing concerns about supply, dipping below $44 US a week after it threatened to hit $50 US.
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US oil prices fell further below $50 a barrel on Tuesday, adding to a week-long slide that has cut more than $5 off record-high prices, as some traders cashed in profits ahead of the US presidential election.
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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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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 futures prices fell sharply Monday, sinking below $50 a barrel on a continuation of last week&#39;s selloff, which was prompted by rising inventories of crude in the United States.
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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 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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WASHINGTON -- Oil prices inched closer to $50 a barrel yesterday even as the Bush administration offered to tap the nation's emergency stockpile of crude on behalf of refiners whose supply was disrupted by Hurricane Ivan.
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The price of US crude oil has eased in early trade, after breaching the $50-a-barrel mark on Friday. Light sweet crude for November delivery fell 42 cents from Friday&#39;s $50.
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By Malcolm Moore, Economics Correspondent (Filed: 21/08/2004). The price of oil came close to $50 a barrel in New York yesterday, as fighting between US forces and Moqtada al-Sadr&#39;s militia in Iraq continued to inflame the market.
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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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U.S. oil prices hovered just below  $50 a barrel on Tuesday, holding recent gains on a rash of  crude supply outages and fears over thin heating oil tanks.
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As crude oil prices move toward $50 a barrel, many stocks tied to oil are lower in Monday trading. Airline stocks included in the downward trend also were hurt by JP Morgan&#39;s downgrade of JetBlue Airways Monday morning.
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Crude-oil prices rebounded Friday but remained below $50 a barrel after declining 4 percent in the last week due to rising US supplies of crude and natural gas.
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Oil prices edged below $49 a barrel on  Wednesday as traders factored in expectations for petroleum  stock builds in weekly U.S. inventory data that would ease  supply worries ahead of peak northern winter demand.