Oil Price Comes Close to $50 but Then It Stages a Retreat
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il prices climbed nearer to $50 a barrel yesterday before retreating, as traders reacted to reports on the conflict in Iraq, concerned that growing unrest might interrupt crude oil exports.
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The two-day decline in oil prices, with crude futures briefly dipping below $53 a barrel yesterday, is a temporary trend that is likely to reverse itself before too long, analysts and traders said.
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Oil prices fall on news of Nigerian peace talks but analysts expect the price to remain close to the $50 mark.
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The price of heating oil isn't falling as fast as the price of gasoline, but it's starting to drop.
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WASHINGTON &#151; Oil prices charged toward $50 a barrel yesterday, and gasoline prices surged to $1.92 a gallon last week, as petroleum output in the Gulf of Mexico returns at a slower-than-expected rate after Hurricane Ivan, and geopolitical unrest keeps traders on edge.
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Oil prices above $50 a barrel â-nd rising â - now starting to adversely affect the economy and consumers in ways that had not been happening only a few months ago.
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OIL prices eased further below $50 a barrel yesterday, extending a week-long bout of profit-taking that has cut more than $5 from record-high crude ahead of the US presidential election.
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The price of US crude oil has eased in early trade, after breaching the $50-a-barrel mark on Friday. Light sweet crude for November delivery fell 42 cents from Friday&#39;s $50.
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The price of oil continues sliding downwards, on expectations of warmer weather ahead.
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Oil prices pierced the $50-a-barrel mark again today amid concern over possible conflict in Nigeria's oil-producing delta region.
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US oil prices inched below $50 a barrel again Tuesday, maintaining a week-long slide that has cut more than $5 off record-high prices as some traders cashed in profits ahead of the US presidential election.
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WASHINGTON -- Oil prices inched closer to $50 a barrel yesterday even as the Bush administration offered to tap the nation's emergency stockpile of crude on behalf of refiners whose supply was disrupted by Hurricane Ivan.
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Oil prices fell to around $68 a barrel   on Wednesday, just off a three and a half month low struck the   previous session and above key support levels that, if broken,   could trigger a deeper selloff.
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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 &#36;50.
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Oil prices fell to a four-week low yesterday, briefly dropping below $50 a barrel, as traders grew less concerned about possible threats to supplies.
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Oil prices ended above $50 a barrel amid concern over possible fighting between rebles and the military in Nigeria&#39;s oil-rich delta region.
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Oil prices eased from new highs on  Friday as dealers pocketed profits from a long record-breaking  run after escalating violence in Iraq took U.S. crude close to  $50 a barrel.