Oil Ends Below $50 on Nigerian Cease-Fire
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Oil prices slid from record highs  above $50 a barrel Wednesday as the U.S. government reported a  surprise increase in crude stocks and rebels in Nigeria's  oil-rich delta region agreed to a preliminary cease-fire with  the government.
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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 prices slid from record highs above  $50 a barrel on Wednesday as the U.S. government reported a  surprise increase in crude stocks and rebels in Nigeria's  oil-rich delta region agreed a temporary cease-fire.
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Crude oil futures settled above $50 for the first time ever on Friday, fueled by concerns about supply in Nigeria and the continuing slow pace of production recovery in the hurricane-ravaged Gulf of Mexico, traders said.
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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 prices raced to new record highs above $50 on Tuesday as rebel threats against Nigerian oil facilities threatened to inflict further strain on global supplies.
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Oil prices made an about face Friday, falling below $48 a barrel, as tensions between U.S. forces and rebel fighters in Iraq eased, raising hopes that attacks against the country's oil infrastructure would subside.
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Oil prices rose to record highs Monday  near $50 a barrel for U.S. crude as Nigeria emerged as the  latest focus for worries about supply in an already tight  worldwide energy market.
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Oil prices fell Monday amid news of the release of an American oil worker kidnapped in Nigeria.Comment
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Crude oil prices have dipped in New York, sliding as much as two dollars to around $50 a barrel. That&#39;s extending declines seen last week despite concerns that a planned strike in Nigeria could affect output.
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A peace deal between rebel gangs in Nigeria helped drag the price of a barrel of oil back below $50 in New York yesterday, giving a boost to the equity markets and pushing
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NEW YORK - Oil prices closed above $50 a barrel for the first time in New York trading Friday, as traders fretted about Nigerian oil production amid a threatened rebel uprising.
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Nigerian stock prices dropped 0.4 percent last week as the index closed at 52,264.11 points from 52,452.49 the previous week, brokers said Sunday.
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Crude oil futures closed in on $49 a barrel yesterday as traders considered the possibility of another OPEC production cut, turmoil in Nigeria, and violence in Iraq ahead of the election.
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Oil prices dropped from record highs  above $50 a barrel on Wednesday as the U.S. government reported  a surprise increase in crude stocks and rebels in Nigeria's  oil-rich delta region agreed a cease-fire.
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Crude oil futures fell close to a one- month low on expectations a cease-fire in southern Iraq will reduce the sabotage of oil pipelines and supplies from Russia will increase.
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Oil futures prices sank below $50 a barrel Monday, continuing the selloff sparked last week by rising US supplies of crude and easing fears about the refining industry&#39;s ability to satisfy heating oil demand.