Oil falls towards $79 as Humberto fades
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Oil slid towards $79 a barrel on Friday, as a hurricane subsided in the Gulf of Mexico, though prices held near the previous day's record high on supply worries ahead of peak winter demand.
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Oil prices fell below $87 a barrel on Wednesday as stock markets declined further, shrugging off a temporary reprieve from Tuesday's steep cut in U.S. interest rates amid persistent fears of a global economic slowdown.
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Oil tumbled more than 2 percent to a three-month low below $87 a barrel on Wednesday amid persistent worries of a recession in top energy consumer the United States.
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Oil prices dipped on Thursday but  held near $80 a barrel and the previous day&#39;s record high, as  dealers watched a tropical storm in the Gulf of Mexico after a  sharp fall in U.S. crude stocks.
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Oil eased from its record high on Friday as a hurricane subsided in the Gulf of Mexico and refineries looked set to return to normal operations.
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Oil fell to $87 on Wednesday after a  larger-than-expected build in U.S. crude stocks and growing  fears of a U.S. recession.
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OIL prices retreated in New York and rose marginally in London today as worries about the impact of Hurricane Frances subsided. New York&#39;s reference contract, light sweet crude for October delivery, tumbled
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Oil hit a record high above $79 a barrel on Wednesday, propelled by an unexpectedly large drop in U.S. crude oil stocks that followed only a small output increase from OPEC ahead of peak winter demand.
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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 fell below $93 per barrel on Monday in thin trade as mild weather swept across the key heating regions of the United States, cutting fuel demand.
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Oil prices fell yesterday after an early rally in jittery trading due to hurricane speculation and light volume.
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Oil hit a record high above $79 a barrel on Wednesday, propelled by an unexpectedly large drop in U.S. crude oil stocks that coincided with only a small output increase from OPEC ahead of peak winter demand.
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Oil pulled back slightly but remained above $70 on Tuesday as a powerful cyclone reached the coastline of Oman and shut its oil and gas export terminals.
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Oil prices fell again Thursday as worries over supply disruptions eased. New York light sweet crude ended the day just over $43, and OPEC president Purnomo Yusgiantoro said the cartel hoped
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Oil pulled back slightly but remained above $70 on Tuesday as a powerful cyclone in the Arabian Sea reached the coastline of Gulf producer Oman, closing the main gas export terminal.
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Oil prices dipped on Thursday but held near the previous day's record high above $80 a barrel, as dealers watched a tropical storm in the Gulf of Mexico after a sharp fall in U.S. crude stocks.
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Oil fell more than $1 to below $77 a barrel on Monday after some funds booked profits as OPEC expressed concern over near record prices and pledged to pump more crude if needed.