Gillian Wong
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/ 24 March 2008

Oil prices drop amid US economic concerns

Oil prices slipped more than a barrel on Monday as traders worried that the flagging United States economy would cause oil demand to soften. Oil’s sharp decline started last week. Crude futures started plunging after the US Federal Reserve-backed sale of Bear Stearns to JPMorgan Chase created fears of deeper economic problems.

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/ 13 November 2007

Oil prices drop on Opec news, stronger dollar

Oil prices dropped on Tuesday after a key Organisation of the Petroleum Exporting Countries (Opec) member left open the possibility the oil cartel will increase output to curb rising prices, and following the strengthening of the dollar overnight. Light, sweet crude for December delivery fell by six cents to ,56 a barrel.

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/ 9 November 2007

Oil prices regain lost ground

Oil prices rose on Friday to regain ground lost in a fall the previous session, as persistent supply concerns and a late rebound in United States stocks offset worries about US economic growth. Wall Street fell on Thursday but finished well off its lows after a late rebound in financial shares lifted other stock sectors.

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/ 27 January 2006

Oil prices ‘unlikely to fall soon’

Crude oil futures rose back above a barrel on Friday on persistent supply fears linked to Iran’s nuclear stand-off with the international community and militant attacks in Nigeria. Adding to the bullish tone, Saudi Arabia’s Oil Minister, Ali Naimi, said prices are unlikely to fall in the near term.