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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Crude oil surpassed $50 a barrel and was close to a record in New York as US production in the Gulf of Mexico took longer than expected to recover, slowing the buildup of inventories to meet winter needs.
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Oil prices fell to a four-week low yesterday, briefly dropping below $50 a barrel, as traders grew less concerned about possible threats to supplies.
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Oil prices plunged to $50.13 yesterday, capping a 10 percent fall from record highs set last week and easing worries about high energy prices in financial markets.
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Oil prices dropped from record highs  above $50 a barrel on Wednesday as weekly U.S. inventory data  showed a surprise increase in crude stocks, easing fears over  stretched international supplies.
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Oil prices edged lower in thin early trade on Wednesday, keeping within sight of &#36;50 a barrel on supply worries in the United States, where weekly data is expected to show a draw in distillate inventories.
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Oil prices closed above $50 a barrel for the first time Friday as concerns linger about damage to oil production in the Gulf of Mexico from Hurricane Ivan.
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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 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 a barrel.
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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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Oil prices closed above $50 a barrel for the first time yesterday as concerns linger about damage to oil production in the Gulf of Mexico from Hurricane Ivan.
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Oil prices held below $50 on Wednesday as a fresh jump in US crude oil inventories tempered the impact of President George W. Bush&#39;s move towards victory in the US election.
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Oil prices fell back below $68 a barrel   on Wednesday to near this week's three and a half month low   after the end of the U.S. driving season helped to remove any   lingering concerns of supply shortage.
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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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Crude oil futures eased slightly Monday but remained close to the US$50 barrel level amid lingering concerns about shortages of heating oil at the start of the Northern Hemisphere winter, market-watchers said.
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Oil futures retreated below $50 a barrel yesterday, though analysts said there is enough uncertainty about geopolitics and weather -- and the industry&#39;s
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Oil is now down almost 15% in a week. Isn&#39;t this what people were complaining about two weeks ago when oil was marching toward $50 a barrel?