US oil prices fell to a 10-week low after Egyptian President Hosni Mubarak stepped down and handed over power to the army.
Mubarak's departure came after 18 days of mass protests that had raised concern about potential for supply disru
US oil climbed above $87.20 a barrel on Wednesday, led by strong performances in the global stock markets and a surprise draw down in crude inventories in the world's top oil consumer.
US crude for March rose 33 cents to $87.27 a barrel at
Oil steadied above $91 a barrel on Wednesday, as forecasts for warmer weather in the US Northeast offset expectations for a further drawdown in crude stocks in the world's largest oil user.
Nymex crude for February delivery
The global economy can withstand an oil price of $100 a barrel, Kuwait's oil minister said on Saturday, as other exporters indicated global production was unlikely to rise in 2011 because the market was well supplied.
Analysts have sai
Oil prices climbed near a two-year high on Thursday, boosted by an unexpected surge in global demand that has fueled the biggest drop in US crude stockpiles in more than a decade.
US crude for February rose 19 cents to $9
Oil prices fell on Friday in choppy trading, finishing with a weekly loss as concerns that China's moves to cool inflation will curb energy demand, while slumping gasoline futures hit crude futures which had risen on news of surging Chinese im
Oil was steady near $84 on Wednesday, capped by a stronger dollar as financial markets remained focused on Europe's debt problems, while an industry report signalled a drawdown in US fuel inventories may be slowing.
Oil slipped on Tuesday, retracing part of the sharp gains seen in the previous session, while traders awaited further evidence that inventories were draining amid hopes of a surge in demand for heating in sight.
Oil slipped on Tuesday on forecasts for gains in US crude and gasoline inventories, a stronger dollar and technical analysis signalling Monday's rally to a two-month high was overdone.
US crude for November shed 23 cents to $81.24 a ba
Oil was steady on Monday after earlier touching a two-month high near $82 on expectations that the slow pace of the US economic recovery will prompt a monetary boost that would spur energy consumption.
November US crude fell 1 cents $81.57