Oil edged down on Tuesday for the fourth straight day, relinquishing earlier gains, as fresh concerns about weaker demand in top oil consumer the United States tempted some players to cash in. US crude was down 66 cents to ,20 a barrel by 14.40am GMT, off the day’s high of ,60.
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/ 29 January 2008
Opec is widely expected to resist consumer calls for more oil when it meets on Friday, worried by a slowing United States economy and the onset of seasonally lower demand in the spring. Oil has fallen to around a barrel from a record ,09 on January 3, easing pressure on Opec to pump more.
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/ 13 September 2007
Oil prices dipped on Thursday but held near the previous day’s record high above a barrel, as dealers watched a hurricane in the Gulf of Mexico after a sharp fall in United States crude stocks. US crude traded 12 cents lower at ,79 a barrel by 8.39am GMT, after climbing ,68 on Wednesday, when it hit a record of ,18.
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/ 12 September 2007
Oil hit a record high of nearly $79 a barrel on Wednesday, after the Organisation of the Petroleum Exporting Countries’s (Opec) modest output increase failed to allay winter supply concerns and ahead of United States inventory data. US light crude for October delivery set a record high of $78,99 a barrel.