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/ 3 December 2007
Oil bounced back above a barrel on Monday as traders bet last week’s nearly sell-off was overdone, and might turn the tides against an expected increase in output by the Organisation of the Petroleum Exporting Countries when the cartel meets later this week.
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/ 30 November 2007
The price of oil fell back below a barrel on Friday as the market speculated about the chances of an increase in Organisation of the Petroleum Exporting Countries output at the cartel’s meeting next week, dealers said. New York’s main contract, light sweet crude for January delivery, was down ,75 to ,35 per barrel.
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/ 29 November 2007
Oil prices rebounded by over a barrel on Thursday, after an explosion and fire at an oil terminal in Minnesota shut down most of the main pipeline that delivers Canadian crude to United States Midwest refineries. US crude rose by ,11 to ,73 a barrel by 4.35am GMT, recouping some of the previous session’s loss of ,80, or 4%.