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Business 02 Aug 2007 | 12:00 AM

Oil falls short of new record high

Crude oil fell short of a fresh record high on the New York Mercantile Exchange (Nymex) yesterday as prices succumbed to light profit-taking amid concerns over the US weekly inventory data.

Business 04 Oct 2007 | 12:00 AM

Unexpected jump in crude supplies undermines prices

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.

Business 19 Oct 2007 | 12:00 AM

Crude oil futures surpass US$90 a barrel for the first time

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.

Business 22 Oct 2007 | 12:00 AM

Oil prices fall below US$88 a barrel in Asian trading

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.

Business 22 Nov 2007 | 12:00 AM

Crude futures falter on run to US$100 a barrel

Crude oil futures closed down in choppy trading Wednesday, failing to breach $100 a barrel after the government reported that crude oil inventories at a key Midwest oil terminal rose for the first time in weeks.

Business 19 Dec 2007 | 12:00 AM

Oil prices rise

SINGAPORE (AP) - Oil prices rose Wednesday ahead of the release of U.S. government data on petroleum supplies expected to show crude stockpiles fell for the fifth straight week.

Business 27 Dec 2008 | 12:00 AM

Nymex oil benchmark again in question

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.

Business 01 Jan 2009 | 12:00 AM

Crude ends extraordinarily volatile year below US$45

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.

Business 16 Jan 2009 | 12:00 AM

Oil languishes near US$35 Friday (Updated)

Oil prices languished near US$35 a barrel Friday in Asia as traders eyed a weakening U.S. economy and falling global demand that's sent crude down a third since last week.

Business 20 Jan 2009 | 12:00 AM

Oil falls below US$35 ahead of busy earnings week

Oil prices fell to below $35 a barrel Monday as investors eyed a slew of U.S. corporate earnings this week for signs of weakening consumer demand amid the worst recession in decades.