Oil ends at one-month low on economic worries
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Oil settled at a one-month low on Tuesday amid intensifying worry a weak U.S. economy could trigger a global slowdown in energy demand.
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Oil prices came within a whisker of   retesting a near six-month low of $63 on Friday as supply   worries eased, knocking gold to three-month lows and dragging   resource shares such as Japan's INPEX lower.
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Oil prices settled at a seven-month low yesterday, as rising global supplies, slack demand and a mild Atlantic hurricane season forced geopolitical worries to the back burner.
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Oil prices fell to their lowest level   in five months on Thursday after energy giant BP said it could   bring its huge oil field in Prudhoe Bay, Alaska, back to full   production by the end of October.
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Oil prices hit a one month-high of $47  a barrel on Tuesday as China showed no let-up in its strong  import growth and traders worried that U.S. petroleum  inventories had drawn down heavily due to Hurricane Ivan.
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Oil prices came within a whisker of  retesting a near six-month low of $63 on Friday as supply  worries eased, knocking gold to three-month lows and dragging  resource shares such as Japan's INPEX lower.
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Crude oil prices fell Friday to the lowest in more than four months as traders regarded Organization of Petroleum Exporting Countries&#39;(OPEC) production cut as a too conservative measure.
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Oil prices hit a one-month high of $47 a barrel yesterday as traders worried that US petroleum inventories had drawn down heavily due to Hurricane Ivan.
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NEW YORK Oil prices have dropped again, going down to the lowest level in four months. In New York, crude for January delivery fell one dollar and 52 cents to settle at 41 dollars, 46 cents a barrel.
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On Wednesday, the Energy Department reported a 7.1-million barrel drawdown in oil supplies for the week ended Sept. 10. As of the latest report, oil supplies stood at a seven-month low.
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U.S. oil prices fell to a one-month low  below $45 a barrel on Tuesday, under pressure from signs OPEC  would not cut production until its March meeting and on  forecasts of rising U.S. crude stockpiles.
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Oil fell to an eight-month low below $58 on Wednesday as a surprise build in U.S. crude stocks offset Kuwait's announcement that it may join other OPEC countries in cutting output if prices fall further.
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Crude oil prices fell to the lowest level in four months Tuesday as traders speculated that warm weather and increased refinery output had bolstered US heating-oil supply last week.
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Oil prices closed lower in New York trading on Wednesday for the first time in two weeks, down 39 US cents at $US49.51 a barrel, as concerns about Nigerian crude output eased and US oil inventories rose.
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Oil prices ended lower on Tuesday on signs that high energy costs are slowing the economic growth that has fueled this year's sharp increase in world oil consumption.
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US gasoline costs fell to their lowest level in four months, with the national pump price dropping 1.8 cents over the last week to $1.
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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.