Oil Prices Hover Just Below &#36;50 a Barrel
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U.S. oil prices hovered just below &#36;50 a barrel on Tuesday, holding recent gains on a rash of crude supply outages and fears over thin heating oil tanks.
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WASHINGTON: Oil prices retreated slightly yesterday after surpassing $54 a barrel amid nagging concerns in the market that the global supply buffer is too thin to handle a significant output disruption.
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Oil prices touched 2-month lows near $45 a barrel on Monday before taking back most of their losses, but the downward trend knocked energy company stocks lower and US stock indexes ended little changed.
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U.S. oil prices hovered near &#36;47 a barrel on Wednesday, awaiting data that was expected to show a big drop in fuel stocks in the United States due to weather-related disruptions to output and shipments.
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Oil prices edged lower on Wednesday,  keeping within sight of $50 a barrel on supply worries in the  United States, where weekly data is expected to show a draw in  distillate inventories.
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Oil prices fell back below $68 a barrel   on Wednesday to near this week's three and a half month low   after the end of the U.S. driving season helped to remove any   lingering concerns of supply shortage.
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Oil prices held steady on Thursday as data showing stubbornly low U.S. heating fuel supplies ahead of winter stemmed a rout of nearly &#36;10 since late October.
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Oil prices slipped on Monday but held above &#36;49 a barrel as easing concerns about a winter supply crunch pulled the market further away from record highs set two weeks ago.
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Oil prices rebounded Friday but remained below $50 a barrel after declining 4 percent over the past week due to rising US supplies of crude and natural gas.
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NYMEX crude oil futures were down slightly at just under &#36;46 a barrel on Tuesday but traders said prices were likely to resume their rise later in the week if U.S. inventories fall as expected.
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Oil prices clung near the &#36;49 mark on Tuesday, pausing from a 12 percent slide from record highs ahead of key mid-week data on the health of winter fuel stockpiles in the leading consumer, the United States.
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WASHINGTON -- Oil futures retreated below $50 a barrel yesterday, though analysts said there is enough uncertainty about geopolitics and weather -- and the industry's ability to quickly boost crude output -- to keep prices from plummeting any time soon.
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Oil prices held just below $48 a  barrel on Tuesday, as the market remained nervous that OPEC  producers may cut supplies before the end of the first quarter.
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Oil prices fell slightly on Wednesday  ahead of an expected build in U.S. crude and product  inventories, but remained strong above $48 a barrel on colder  weather in the northern hemisphere.
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Oil prices hovered above &#36;41 a barrel on Tuesday, pausing after a fall of more than 10 percent in the last five sessions amid rising U.S. stockpiles and warmer-than-expected weather.
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Oil prices fell to just above &#36;48 on Friday after the U.S. government said it would lend refiners crude from the Strategic Petroleum Reserve (SPR), but traders deemed the loan too small to have a lasting impact.
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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.