OPEC

Oil plumbed five-week lows below $88 a barrel on Monday as concerns about the health of the U.S. economy extended losses that have cut 10 percent from prices over the past two weeks.

Gold futures rose on Monday following a decline in last weeks trading as weakness in the dollar and falling crude-oil prices prevailed.

Oil prices sank to their lowest in more than five weeks on Monday, a fall that could reduce the chances OPEC will agree to boost oil output at a meeting this week.

Oil bounced back above $89 a barrel on Monday as traders bet last week's nearly $10 selloff was overdone, and might turn the tides against an expected increase in OPEC output when the cartel meets later this week.

OPEC will weigh a modest boost to oil supply at a meeting on Wednesday, but a $10 retreat last week in crude prices from a record high near $100 a barrel could tip the balance away from pumping more.

Oil fell to a one-month low on Friday on ahead of an OPEC meeting next week where countries will decide about oil output.

Gold futures dropped for the fourth straight day on Friday following a decline in crude-oil prices which reduced the demand for the precious metal.

Oil tumbled more than $2 to a one-month low below $89 a barrel on Friday as attention returned to next week's OPEC meeting that is expected to boost output.

Oil gave back nearly all of its big gains on Thursday after Enbridge Pipeline said its fire-damaged crude pipeline in Minnesota could resume normal operations within days.An explosion along the Canada-to-United States pipeline, which supplies more than 10 percent of U.S. crude imports, killed two workers and choked off crude flows Wednesday.

Crude oil rose on Thursday, following an overnight explosion at a major pipeline which cut Canadian oil supply to consumers in the U.S.

Oil surged more than $4 a barrel on Thursday after an explosion at a major pipeline temporarily halted nearly a fifth of crude oil imports to top consumer the United States.

Crude oil fell 4 percent on Wednesday after a U.S. government report said stockpiles dropped less than expected, reducing worries over supply.

Gold futures dropped nearly 2 percent on Wednesday following gains in the dollar and lower oil prices causing traders to lose appeal for the metal.

Oil prices tumbled 4 percent on Wednesday, after a U.S. government report showed crude stockpiles fell less than expected last week, easing supply concerns in the world's top consumer.

Oil fell below $95 a barrel on Tuesday as investors bet that the OPEC exporter group will boost supply for a second time this year at a meeting next week to cool near-record prices.

Crude oil declined for a second day in New York as sliding U.S. equity markets heightened speculation OPEC (Organization of the Petroleum Exporting Countries) will increase output to cap prices and reinforce global demand.

Oil fell on Tuesday on expectations that OPEC may increase output and following a decline in global stock markets. U.S. oil fell dropped 80 cents to $96.90 a barrel by 11:09 p.m. EST, after shedding more than $1.00 earlier. London Brent crude fell by 61 cents to $94.71 a barrel.

Crude oil futures fell on Monday amid expectations that oil cartel OPEC could decide to boost supply at next week.

Oil edged back up above $97 a barrel in thin trade on Friday, buoyed by the unrelenting decline in the U.S. dollar, while some OPEC members showed signs of stepping up output ahead of their policy meeting in two weeks.

Oil held above $98 a barrel on Wednesday, after closing in on the $100 milestone as the dollar hit new lows and cold weather in the United States, the world's biggest fuel consumer, stirred anxiety over winter supplies.

Oil rebounded from early lows to trade above $95 a barrel on Tuesday, boosted by recovering stock markets after talk of another cut in U.S. interest rates to help economies navigate the credit crisis.