World oil prices remained below $80 a barrel mark for the third day in succession on Monday mainly on profit taking by investors.

Light sweet crude for December delivery was seen trading at $79.77 a
barrel t 12.00 noon Singapore time while Brent crude was at $78.41 a
barrel at the same time.

Crude oil fell after four weeks of gains pushed prices above levels justified by a recovery in demand.

Last
week, futures are up 79 percent and touched a one-year high of $82 a
barrel on Oct. 21. Prices gained 22 percent in the four weeks to Oct.
23.

Oil dropped below $80 a barrel after Nigerian rebels ordered a
ceasefire and talks to end a conflict that has cut output from Africa’s
biggest oil producer.

Brent crude oil for December settlement fell
as much as 75 cents, or 1 percent, to $78.17 a barrel on the ICE
Futures Europe exchange in London.

On Friday, US crude for December shed 60 cents to $80.59 a barrel while London Brent crude dropped 43 cents to $79.08 a barrel.

Slew
of key US economic data due out this week, including third quarter
growth figures for the world’s biggest economy, is also expected to
have an impact on crude prices, analysts said

Source: Commodity Online

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• Oil edges in Asia on signs of recovery

    Global oil prices edged higher near $ 82 a barrel in Asian trade Friday mainly on signs of economic recovery in the US. Light sweet crude for December delivery was seen trading at $81.72 a barrel at 12.00 noon Singapore time while Brent crude was at $ 80.10 a barrel

• Oil hovers near $ 79 in Asian trade

    World oil prices remained near $79 a barrel in Asian trade Wednesday after dropped overnight mainly on restoration of oil operations in the Gulf of Mexico. Light sweet crude for December delivery was seen trading at $79.14 a barrel at 11.30 a.m Singapore time while Brent crude for December delivery

• Oil makes less than 83 dollars in Asian trade

    Global oil prices eased below $83 a barrel in early Asian trade Thursday after an overnight surge.

• Oil edges up to about $ 78 in Asian trade

    Global oil prices advanced above $78 a barrel in Asian trade Monday after edged down last week on strengthening dollar and concerns over sustainable economic recovery.

• Oil hovers above U.S. $ 71 in Asia under sagging U.S. dollars

    Oil prices are above $71 a barrel in Asia signs of weak crude demand were offset by a slumping US dollar. Benchmark crude for November delivery was down 29 cents at $71.47 a barrel by midday Wednesday Singapore time in electronic trading on the New York Mercantile Exchange. The contract

• Oil advances in the vicinity of $ 80 in Asian trade

    World oil prices advanced marginally in Asian trade Wednesday mainly on a report showing drop in US stockpiles.

• Oil rises above U.S. $ 77 Friday in Asia

    Oil prices rose above US$77 a barrel Monday in Asia amid a weaker U.S. dollar and an improving global crude demand outlook next year

• Oil is near $ 70 in Asia after the big tumble

    Oil prices were hanging near US$70 a barrel in Asia after falling steeply overnight amid news that China’s crude consumption fell in August. Benchmark crude for October delivery was up 59 cents at US$70.30 a barrel by late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell $2.33

• Oil edges past $ 74 in Asian trade

    Global oil prices edged higher in Asian trade Friday ahead of a crucial US GDP data scheduled for later Friday. Light sweet crude for March Delivery was seen trading at $74.02 a barrel at 11.30 a.m Singapore time while Brent crude was at $72.56 a barrel at the same time.

• Oil above $ 79 after U.S. crude supply drop

    Oil prices extended gains above $79 a barrel Wednesday in Asia after an unexpected drop in U.S. crude supplies suggested demand could be improving. Benchmark crude for December delivery was up 61 cents to $79.75 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile

• Oil stays below $ 80 in Asian trade

    Global oil prices were marginally up in Asian trade Friday mainly on positive US economic report but stayed below $80 a barrel mark.

• Middle East crude oil rises after Saudi Arabia lowers prices

    Crude oil from the Middle East sold to Asia rose against benchmarks after Saudi Arabia lowered its official prices, raising expectations of improvements in processing profits.

• Oil dips below $ 79 in Asian trade

    World oil prices extended losses and eased below $79 in Asian trade Wednesday mainly on reports of increase in US stockpiles amid dollar recovery. Light sweet crude for December delivery was seen trading at $78.62 a barrel at 12.00 noon Singapore time while Brent crude was at $76.84 a barrel at the

• Oil dips below $ 79 in Asian trade

    World oil prices extended losses and eased below $79 in Asian trade Wednesday mainly on reports of increase in US stockpiles amid dollar recovery. Light sweet crude for December delivery was seen trading at $78.62 a barrel at 12.00 noon Singapore time while Brent crude was at $76.84 a barrel at the

• Oil stays below $ 70 in Asian trade

    Global oil prices eased further in Asian trade Monday, for the ninth day in succession, amid concerns about the level of US demand and a stronger dollar. Light sweet crude for January delivery was seen trading at $69.42 a barrel at 11.30 a.m Singapore time after hitting as low as