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 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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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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WASHINGTON - Oil prices are likely to fall at least another $10 a barrel by next year, a top Energy Department official said yesterday, but he warned gasoline and heating oil prices will continue to rise in coming weeks.
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Oil prices fall as it emerges that supply from Iraq will not be affected by a bomb blast and Opec's  members are already producing more oil.
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Oil prices continue falling on comments from Opec that suggest increasing supply is a possibility.
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Oil prices sank more than 2 percent and fell below $44 a barrel Wednesday, extending their recent slide after a government report showed domestic gasoline supplies had not fallen last week, as Wall Street had expected last week.
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U.S. 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 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 prices continued to fall on Thursday after an unexpectedly large increase in crude stocks in the US. A barrel of US light crude was down 96 cents to $51.
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Crude oil prices continued to fall Tuesday as emerging signs showed that the growth in oil demand might slow in 2005. On the New York Mercantile Exchange, crude oil for November
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Oil prices tumbled again on Monday, sliding to an 8-week low under &#36;46 a barrel, as growing fuel stocks in the United States eased fears of a winter supply crunch.
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Oil prices tumbled again Thursday as traders anticipated lower demand from economic powerhouse China on the heels of an unexpectedly large rise in US crude inventories.
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Oil prices eased below $62 on Monday, extending last week's losses, as concern over brimming global fuel inventories offset a likely second supply cut by OPEC and news of deepening Saudi export curbs.
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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 continued their downturn on Friday, retreating from recent highs to their lowest level in five weeks, as rising US stockpiles ease supply fears.
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On expectations that US oil supplies will continue to grow and that heating oil inventories will be adequate this winter, crude oil prices fell below $48 a barrel on Tuesday.