crude oil prices

A one-day crash in crude oil prices was followed Friday by a brief rally, then renewed selling, which kept futures prices for light, sweet crude below $100 a barrel on the New York Mercantile Exchange.. On the New York Mercantile Exchange, June crude CLM1 fell $1.57, or 1.6 percent, to $98.23 a barrel by 8:14 am EDT (1214 GMT), trading from $94.63 to $100.95. * Goldman Sachs, which in April predicted this week's major correction in oil prices,. On the retail side, the company said it wasn't able to fully pass higher crude oil prices on to consumers in the form of higher gasoline prices. The net loss was $101 million, or 84 cents per share, compared with a loss of $63 million,. Oil prices have rocketed this year to levels not seen since the record spike in 2008, driven by supply disruptions in Libya and ongoing loose US monetary policy, with Brent hitting a high of $127 a barrel and US crude over $114.. Oil prices are likely to peak this summer as the loss of Libyan crude production has an increased impact on the market amid rising demand in Europe and Japan, Nomura International Plc. Goldman Sachs Group Inc. said tumbling oil prices have lost a large portion of their risk premium and have the potential for further downside if economic data releases in coming days continue to disappoint. Crude oil may drop after US supplies. NEW YORK, May 6 (UPI) -- The nearly weeklong slump in crude oil prices may mean less pain at the gas pump for US consumers, analysts say. Analysts say they're unsure whether the sell-off is more than an aberration that could reverse the 44 days of. Crude is pushing sharply lower, with prices poised to take out support at the midline of a rising channel that has guided them higher since February 2009. Initial support lines up at $92.98, followed by the channel. As crisis and revolution broke out among numerous Middle Eastern countries, oil prices began to skyrocket, because several of these countries were among the top crude-exporting nations on the globe. Oil quickly broke the $100-per-barrel mark and at its. Photo / Paul Estcourt Petrol prices are likely to keep climbing past this week's record highs, despite a sudden drop in crude prices yesterday. Some analysts say crude oil prices could rise by as much as double in the next few years, causing related.