Oil Prices Take Another Deep Drop
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Crude oil futures nose-dived for a second day in a row yesterday, briefly dipping below $43 a barrel, as traders focused on rising fuel supplies and mild fall weather in the Northeast and Midwest.
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Oil fell to a six-week low on Tuesday, dragged lower by a stock market plunge and fears a slowdown in the United States could have a much wider impact than previously thought.
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WASHINGTON -- Oil prices fell sharply yesterday after briefly surpassing $54 US a barrel despite nagging concerns that the global supply buffer is too thin to handle a significant disruption of output.
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Oil futures prices plunged by more than $2 a barrel Thursday, continuing a sell-off that began last week amid rising US supplies of crude and expectations of a surge in heating oil production before winter arrives.
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Oil prices dropped again on Friday,  bringing this week's slide to nearly 15 percent, as warm  weather in the U.S. Northeast and disappointing U.S. jobs data  darkened prospects for energy demand.
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Oil tumbled another dollar on Thursday,  resuming a two-week slide that has cut 15 percent from prices  as rising crude inventories ease concerns over winter fuel  supplies.
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Oil prices fell again on Tuesday, taking  U.S. crude below $53 a barrel, 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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Oil futures prices sank to their lowest level in nearly a month yesterday on a continuation of the sell-off sparked last week by rising US supplies of crude
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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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Oil fell by more than $4 on Tuesday to a new six-week low as global stock markets swooned on the growing prospect of a U.S.-led economic recession.
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Oil prices fell sharply yesterday after briefly passing $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 fell sharply on Monday in what traders described as a wave of profit-taking sparked by a steep decline in gasoline futures.
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Oil prices fell nearly 1 percent to below $93 a barrel on Tuesday, fading from their latest record high as investors took profits from a rally fuelled by a Mexican supply outage and the spiraling dollar.
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Oil prices fell more than $1 to just over $44 a barrel Wednesday, dragged down by heavy losses in US gasoline futures after summer driving demand failed to meet expectations.
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Oil prices sank more than 2 percent and fell below $44 a barrel Wednesday, extending their recent slide after a government report showed domestic gasoline supplies had not fallen last week, as Wall Street had expected last week.
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Oil prices tumbled again on Monday, sliding to an 8-week low under $46 a barrel, as growing fuel stocks in the United States eased fears of a winter supply crunch.
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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.