Crude Oil Prices Nosedive on Profit-Taking
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Ed Silliere, vice president of risk management at Energy Merchant in New York, said the downward momentum was due to profit taking, which began after oil prices momentarily broke the $55 a barrel mark, as well as to signs of lower demand for gasoline.
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Oil prices slipped further from  record highs on Wednesday as traders locked in profits after  the market's $10 surge since mid-August.
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Crude oil futures fell in London, ending the week 7.7 percent lower after a report two days ago showed an unexpected gain in US inventories of distillate fuels such as heating oil.
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Oil futures prices sank to their lowest level in nearly a month yesterday on a continuation of the sell-off sparked last week by rising US supplies of crude
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Crude oil fell from yesterday&#39;s record of $54.88 a barrel in New York amid concern that sustained high prices may slow economies and reduce demand for energy.
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Oil prices fell nearly 1 percent to  below $93 a barrel on Tuesday, fading from their latest record  high as investors took profits from a rally fuelled by a  Mexican supply outage and the spiraling dollar.
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Oil edged lower on Friday to around $59 a barrel after tumbling on a build in crude stocks, but trade was muted by a U.S. holiday.
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Crude oil futures fell sharply Tuesday as traders opted to cash in profits after six straight sessions of strong gains in oil market.
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Oil dipped below $60 a barrel on Wednesday, as dealers took some profits from gains following an extended disruption to Alaskan crude exports and on expectations of a decline in fuel stocks in the United States.
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Oil prices fell from near record peaks  on Wednesday after a sharp build in U.S. crude stocks spurred  traders to take profits.
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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.
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Oil fell to $90 a barrel on Monday, as weaker global stock markets spurred profit taking, although expectations that OPEC will resist pressure to raise output this week limited deeper losses.
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Oil prices fell from record peaks for a  second session on Wednesday as traders took profits from a  searing rally on signs that high prices are finally starting to  dampen demand.
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Crude and heating oil futures fell fast and hard in New York trading Monday morning as traders and players took profits on recent gains before Tuesday&#39;s US presidential election.
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Oil prices eased from new highs on Friday as dealers pocketed profits from a long record-breaking run after escalating violence in Iraq took US crude close to $50 a barrel.
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Oil prices fell nearly 1 percent to below $93 a barrel on Tuesday, fading from their latest record high as investors took profits from a rally driven by a Mexican supply outage and the spiralling dollar.
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Oil prices retreated sharply after setting record highs above $55 a barrel on Monday as dealers took profits on signs that energy costs are hurting economic growth.