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SIOUX FALLS, South Dakota: Oil prices wavered near US$64 a barrel Monday as encouraging quarterly reports from major corporations were offset by what could be an extended period of weak demand for energy.
Oil prices hovered above $40 a barrel Tuesday in Asia after grim U.S. economic news and tumbling stock markets sparked a huge drop overnight.
Oil prices fell below US$39 a barrel Friday in Asia as investor concerns about weak crude demand lingered after lower-than-expected inventory numbers sparked a big gain overnight.
Oil broke out of a weeklong slump Friday, soaring 10 percent, as traders prepared for a long Presidents Day weekend.hr noshade size=-1 width=50%>
Oil rose back above US$34 a barrel Friday in Asia after concerns about weakening U.S. consumer demand sent crude near five-year lows overnight.
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.
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.