Crude Oil Prices Holding Just Below Recent High
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Oil prices have gone up sharply in the past month because of production snags in the Gulf of Mexico, where more than 22.6 million barrels of production have been lost since Hurricane Ivan hit mid-September.
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Oil held above $75 on Wednesday, within sight of an all-time high, as investors balanced tightening U.S. crude stocks against OPEC's reluctance to boost supplies when it meets next week.
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Oil futures prices sank to their lowest level in nearly a month Monday on a continuation of the selloff sparked last week by rising US supplies of crude and easing fears about the refining industry&#39;s ability to satisfy heating oil demand.
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On expectations that US oil supplies will continue to grow and that heating oil inventories will be adequate this winter, crude oil prices fell below $48 a barrel on Tuesday.
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Oil prices steadied below $70 on   Wednesday as dealers weighed tensions over Iran's nuclear   program against robust crude inventories in the United States,   the world's largest energy consumer.
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Oil prices held below $50 on Wednesday as a fresh jump in US crude oil inventories tempered the impact of President George W. Bush&#39;s move towards victory in the US election.
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Oil prices slipped to their lowest level   in five months before rebounding on Thursday as dealers took   pause from a three-day decline ahead of U.S. data expected to   show healthy crude stocks and rising distillate inventories.
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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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U.S. oil prices were steady on  Thursday, holding gains of nearly $2 from a day earlier after a  U.S. government report showed crude oil stocks falling to their  lowest level in five months.
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Rarely has the oil price fallen so far so fast. Crude futures have dropped more than 15 per cent in only four sessions sending prices to three month lows.
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Oil prices fell sharply last night, taking US crude below $50 ahead of the US presidential election. US light crude dipped as low as $49.
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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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Oil prices held firm Friday after leaping almost $2 a day earlier on news US crude stocks sank to a five-month low last week and distillate fuels barely grew ahead of winter.
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Oil prices held just below &#36;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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Crude oil prices continued down their slippery slope yesterday, hitting a two-month low after Iran&#39;s government took steps to dampen political tensions with the United States.
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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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Battered oil prices stayed weak on Friday after a $6 slump spurred by easing worries about winter supplies. US crude oil futures (CLc1: Quote, Profile, Research) fell five cents to $43.20