Oil hits 6 month low

[Wolf]

Oil dropped under $60 to a six-month low on Monday as fears that sluggish U.S. economic growth would stiffle demand.

It held above $61 on Wednesday as dealers balanced an expected rise in robust U.S. winter fuel inventories against a warning from producer cartel OPEC that it may take action to stabilise prices.

[Apache]

Kuwait says it may follow OPEC members Venezuela and Nigeria in production cuts; inventories on tap.

LONDON (Reuters) -- Oil rose above $59 a barrel Wednesday after Kuwait said it may join other OPEC countries in cutting output if prices continue their three-month slide.

http://money.cnn.com/2006/10/04/markets/oil.reut/index.htm?postversion=2006100409

[Wolf]

Crude futures plunged to a fresh seven-month low Tuesday as traders disregarded Venezuelan and Nigerian production cuts and focused on high fuel inventories and a reduced hurricane forecast.

http://www.thestreet.com/markets/commodities/10312671.html