UPDATE 1-Oil deepens fall to below $50, awaits US vote
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US oil prices drifted below $50 a barrel on Tuesday, extending a week-long slump that has shaved more than $5 off record-high prices as some traders cashed in profits ahead of the US presidential election.
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US oil prices hovered just below $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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LONDON  - Oil prices continued their retreat, dipping below 50 dollars in New York as Americans voted in a presidential election expected to send ripples through oil markets.
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NEW YORK, December 2  - Crude oil prices declined for the third consecutive day today, reaching their lowest levels in 11weeks, on news of rising US fuel inventories and a less severe winter in various parts of the country.
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LONDON: Oil prices fell to seven-week lows below $47 a barrel on Wednesday as traders braced for another increase in US oil and natural gas inventories.
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SINGAPORE : Oil prices hovered just below US$50 a barrel in Asian trading on Tuesday as heating stocks for the northern winter remained the prime concern, dealers said.
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Oil futures dipped below $46 a barrel yesterday as traders assessed what appeared to be a short-lived cold snap in the United States, where cold weather and tight heating oil supplies helped drive prices higher last week.
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Oil prices jumped above $50 a barrel this morning, supported by US election tallies projecting a slim lead for President George W Bush.
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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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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 eased, trimming gains from a US$1 rally the previous day following President George Bushâs US election victory. US light crude eased 19 cents to $50.
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Oil prices edged further below $49 a  barrel on Tuesday as the frigid U.S. Northeast looked ahead to  warmer conditions and some traders moved to the sidelines ahead  of Iraqi elections and an OPEC meeting.
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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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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.
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Oil fell below $71 a barrel on Friday, reversing an earlier gain, as restarting oil refinery units in top consumer the United States signaled an increase in gasoline supplies.
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Oil prices fell Thursday after moving close to US$49 a barrel as markets digested news of a rise in crude inventories but lower-than-expected US heating oil stocks.
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SINGAPORE/LONDON  - Oil fell toward $60 a barrel on Tuesday, extending Monday's steep drop on forecasts of a further increase in fuel inventories in top oil consumer the United States.