Oil Prices Continue to Plummet
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Crude oil futures continued to plummet today on the belief that fuel supplies in the United States will be adequate to deal with its coming winter.
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Oil prices extended their decline on Wednesday to below $88 a barrel as poor U.S. economic data reinforced fears that the world's largest economy is on the brink of a recession, knocking stock markets lower.
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Oil prices fell Wednesday morning after government data showed that the nation&#39;s crude supply grew for the second week in a row.
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Oil prices fell sharply last night, taking US crude below $50 ahead of the US presidential election. US light crude dipped as low as $49.
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Oil prices continued their recent slide as optimism that supply would hold up this winter had more traders shifting money out of energy markets.
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Oil futures prices plunged by more than $2 a barrel Thursday, continuing a selloff that began last week amid rising US supplies of crude and expectations of a surge in heating oil production before winter arrives.
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Oil prices tumbled again on Monday to an  8-week low under $46 a barrel, as growing fuel stocks in the  United States eased fears of a winter supply crunch.
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Oil slid further below $58 a barrel on Thursday after its repeated failure to breach $60 triggered a two-percent sell-off the previous day.
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Oil prices have fallen further below $50 a barrel as, with the result of the US presidential elections still difficult to predict, traders cashed in positions.
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Battered oil prices fell again on  Friday, extending this week's 14 percent slide, as  disappointing U.S. jobs data deepened a slump driven by easing  worries about winter supplies.
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NEW YORK, December 2  - Crude oil prices declined for the third consecutive day today, reaching their lowest levels in 11weeks, on news of rising US fuel inventories and a less severe winter in various parts of the country.
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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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WASHINGTON -- Oil prices tumbled for a third consecutive day yesterday, briefly falling below $45 a barrel, as geopolitical concerns that had brought the market to a boil in recent weeks appeared to cool off.
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Oil prices continue falling on comments from Iran and Opec that suggest increasing supply is a possibility.
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SINGAPORE: Oil prices slid to a five-week low on Friday, continuing a downturn that has slashed almost 13 per cent from record highs as rising stockpiles have eased worries of a winter supply crunch.
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US average retail gasoline prices fell over the last two weeks and are poised to slip even further as crude oil prices continue to tumble, an industry analyst said on Sunday.
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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.