Recent dismal economic data and growing U.S. inventories kept oil prices below $50 a barrel Friday despite hopes of a possible second-half recovery in crude demand. Benchmark crude for May delivery fell 40 cents to $49.58 a barrel by Noon in European electronic trading on the New York Mercantile Exchange. The contract on Thursday rose 73 cents to settle at $49.98.
Crude oil was down 34 cents to $34.70 per barrel. For full story, click here
Oil fell below $42 a barrel, in a retreat from session highs achieved earlier partly in response to a weak US dollar and comments from Saudi Arabia that OPEC supply cuts will stabilise the market. For full story, click here
Oil prices extended their sharp fall to drop further below $40 a barrel on Tuesday, weakened anew by growing signs of deteriorating world oil demand. For full story, click here
Garware Offshore Services has said the fall in international crude prices and the credit crunch has forced oil exploration and production companies to put on hold their plans for hydrocarbon discoveries. For full story, click here
Crude for March delivery CLc1 fell 57 cents to $45.90 a barrel in Globex electronic trading by 2346 GMT. The contract settled up $2.80, or 6.41 percent, at $46.47 a barrel. For full story, click here
U.S. crude futures fell below $46 a barrel, giving up some of the previous session’s 6 percent gains as fears about a deepening global economic downturn returned to the fore. For full story, click here
Oil prices extended their sharp fall to drop further below $40 a barrel , weakened anew by growing signs of deteriorating world oil demand. For full story, click here
Oil fell more than $2 to below $37 a barrel on Wednesday, tracking global equity losses and ahead of U.S. data expected to show an increase in crude stocks. For full story, click here
Global investment banks Merrill Lynch and Goldman Sachs now foresee it slipping to USD 25-30 level, while Indian analysts anticipate a strong resistance at 40 dollars. For full story, click here
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