Oil falls below $80 after supply concerns spur new record
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Oil fell on Friday after supply concerns and tight inventories pushed prices to a record above $80 a barrel for the third consecutive day.
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WASHINGTON -- Oil prices fell by more than $1 a barrel yesterday after the US government released data showing healthy crude inventories and a surge in domestic fuel supplies .
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Oil prices on both sides of the Atlantic have fall to some of their lowest levels in eight weeks, as shortage fears ease.
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Oil hit an all-time high over $80 a barrel on Thursday after Hurricane Humberto forced the closure of some U.S. Gulf refiners, stoking supply concerns amid falling inventories in the world's top consumer.
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Crude oil prices hit a record yesterday, briefly topping $80 a barrel as the Energy Department reported an unexpectedly sharp drop in U.S. inventories, a hurricane warning closed the Houston Ship Channel and oil traders discounted the significance of OPEC's announced plan to slightly raise its ou...
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Oil fell to an eight-month low below $58 on Wednesday as a surprise build in U.S. crude stocks offset Kuwait's announcement that it may join other OPEC countries in cutting output if prices fall further.
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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 fell below $88 on Monday as financial markets tumbled on fresh concerns over the health of the U.S. economy.
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Oil fell sharply toward $87 a barrel on Monday as part of a broad-based commodities sell-off on concerns over the health of the U.S. economy and a recovery in the U.S. dollar.
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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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London - Oil prices edged lower on Friday after a two-day rout that saw the value of crude drop 12 percent amid easing fears over a northern winter supply shortage, traders said.
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Oil dropped more than a dollar towards $89 a barrel on Monday as falling global stock markets spurred profit taking.
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Dips in demand and easing threats to supply have pushed oil futures to below $63 a barrel.
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Oil fell below $60 on Friday as investors doubted OPEC's resolve to carry out supply cuts and focused instead on brimming fuel stockpiles in top consumer the United States.
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Crude oil futures fell below $47 a barrel yesterday as the US government's latest petroleum report showed an unexpected rise in gasoline inventories and a surprising decline in the nation's oil supply.
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Oil fell below $60 a barrel on Friday as investors doubted OPEC's resolve to carry out a planned supply cut and fuel inventories swelled in the United States, the world's top consumer.
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Oil prices hit another new record after an unexpected fall in US crude stockpiles adds to winter supply concerns.