Oil Price Dive Deepens as Supplies Swell
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Oil prices slid more than a dollar to  7-week lows on Tuesday as growing signs of ample supply eased  concerns over fuel stocks for the northern winter.
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Oil on Tuesday extended a price slide  that has cut 12 percent from record highs in two weeks as  growing signs of ample supply eases concerns over fuel stocks  for the northern winter.
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NEW YORK -- Oil prices plummeted below $44 a barrel yesterday, sinking for the fourth consecutive day, as supply fears receded, gasoline futures plunged and profit- taking took over.
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Oil prices fell Wednesday after the government reported that US inventories of crude rose 3.4 million barrels last week, surprising many traders and analysts who had expected to see supplies shrink because of lingering output problems
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Oil prices slipped further from  record highs on Wednesday as traders locked in profits after  the market's $10 surge since mid-August.
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Oil extended its retreat on Thursday,  taking two-day losses to 6 percent after an unexpectedly large  rise in U.S. crude inventories spurred speculative funds to  take profits out of record high prices.
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Oil prices edged higher on Thursday from a heavy drop the day before as renewed violence and sabotage attacks in Iraq revived fears over supply disruptions.
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The price of oil sank for the fourth consecutive day yesterday amid profit taking and easing concerns about supply, dipping below $44 US a week after it threatened to hit $50 US.
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Oil prices continued falling on Thursday after an unexpectedly large rise in U.S. crude inventories spurred profit-taking from record highs.
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WASHINGTON -- Oil prices bounded higher for the fourth day in a row yesterday, with further declines in US supply expected as petroleum producers disrupted by hurricane Ivan continue to regroup.
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Gasoline prices extended their slide at the pump Wednesday, while oil and gasoline futures gained on a surprise decline in gas inventories.
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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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Battered oil prices dived another dollar  on Friday as weak U.S. jobs data deepened a slump driven by  easing worries about winter supplies.
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Oil prices tumbled Wednesday after a report showing a bigger jump in crude oil inventories than traders and analysts had been expecting.
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Crude oil prices fell sharply Wednesday as concerns about tight winter-fuel supplies eased amid a great increase in US inventories of crude oil.
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Oil extended its retreat on Thursday, taking two-day losses to 6 percent after an unexpectedly large rise in US crude inventories spurred speculative funds to take profits out of record high prices.
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Crude oil prices fell by more than $3 yesterday after a federal government report showed larger-than-expected heating oil supplies in the US, easing fears of a shortage this winter.