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NEW YORK (AP) - Oil prices fell for a fourth straight day Wednesday after a government agency reported an unexpected increase in crude oil inventories and a decline in supplies of gasoline and distillates including heating oil.
Oil prices surpassed US$90 a barrel for the first time in after-hours trading in New York on speculative buying before slipping back Friday in Asia.
SINGAPORE (AP) - Oil prices dropped in Asian trading Monday, extending a retreat from last week's record above US$90 a barrel as investors sold to lock in profits before the contract expires later in the day.
THE record differential between the front-month and more liquid second-month contracts at expiry last week once again raised pointed questions about whether the Nymex light sweet contract is serving as a good benchmark for the global oil market, or sending misleading signals about the state of supply and demand.
COLUMBUS, Ohio (AP) - Oil prices jumped 14 percent on New Year's Eve, capping a year that saw prices soar to unprecedented heights only to give up four years of gains in just five months.