Oil Slips Under $50 as US Supply Swell
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Oil prices fell further below $50 on Wednesday as a fresh rise in US crude oil inventories outweighed the impact of President Bush&#39;s victory in the US election.
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Crude oil futures eased slightly Monday but remained close to the $50 a barrel level amid lingering concerns about shortages of heating oil at the start of the Northern Hemisphere winter.
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Crude oil prices slipped below USD 50 a barrel in Asian trade overnight as the market waited for the outcome of the US presidential election.
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Oil prices dropped to 2-month lows on  Monday, with U.S. crude falling near $45 a barrel before paring  losses in late trade, as growing fuel stocks in the United  States eased fears of a winter supply crunch.
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Oil prices leaped back above $50 on Wednesday as President George W. Bush edged towards US election victory, a result which traders said would bolster fuel demand and underpin anxiety over security of Middle East supply.
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NEW YORK: Oil dropped below $50 a barrel last night to the lowest price in more than a month, extending a $6 slide from recent peaks as the US presidential election got underway.
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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 eased on Wednesday on mild US weather as traders waited to see whether the first cold snap of the US winter has eaten into low heating fuel supplies.
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Oil prices fell below $48 US a barrel Wednesday after the US government reported increases in the US supply of crude oil and distillate fuel, which includes heating oil.
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Oil has leapt back above $50 as President George W. Bush edges towards US election victory, a result which traders. say will bolster fuel demand and underpin anxiety over security of Middle East supply.
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Oil prices edged lower in thin early  trade 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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LONDON  - Oil prices see-sawed, failing to sustain a brief rally on news of a surprise fall in US distillate stockpiles, including heating fuel, and an unexpectedly small increase in crude inventories.
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Oil prices edged lower in thin early trade on Wednesday, keeping within sight of &#36;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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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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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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Oil slipped on Monday to around $59 a barrel, pressured by expectations for warmer weather in the United States and supported by threats to supply in Nigeria.
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U.S. oil prices slid more than half a  dollar to below $44 a barrel on Monday as unusually mild winter  weather in the United States curtailed demand.