Oil prices rebound above 50 dollars, close in on record highs
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LONDON : Oil prices rallied back above 50 dollars a barrel, closing in on record high points on technical factors and persistent worries about tight global supplies, traders said.
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Crude oil prices briefly hit an all-time high of US$50.69 on Tuesday as worries persisted over supply and unrest in key producers.
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Oil prices surged to new record highs on  Monday near $50 for U.S. crude as Nigeria emerged as the latest  focus for worries about supply security on world energy  markets.
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The price of oil finally broke through the $50-a-barrel mark today, a milestone never seen before.
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CRUDE oil prices surged past US$50 a barrel for the first time yesterday to a new record high, raising concerns that higher energy costs could slow the global economy next year.
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Oil prices set a new record above $50  a barrel on Tuesday as a prolonged U.S. production outage  following Hurricane Ivan attracted fresh speculative buying.
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Oil prices jumped more than a dollar,  climbing above $48 a barrel Wednesday after U.S. data showed  the disruption caused by Hurricane Ivan had eaten into fuel  stocks.
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The price of a barrel of crude oil passed the record 50-dollar level on Monday, with various factors - such as the violent situation in Iraq and hurricanes in the Gulf of Mexico â-etting the blame for the hike.
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Crude oil prices surged past the $50 per barrel milestone in overnight trading in response to the triple threat of turmoil in the oil-rich countries of Nigeria and Iraq and a decline in production in the hurricane-battered Gulf of Mexico.
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Oil prices edged higher on Tuesday,   rebounding slightly from a near 3-month low the previous   session as supply concerns eased with the end of the U.S.   summer driving season.
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Oil prices closed higher on Friday,  clawing back some of its heavy losses from earlier in the week,  helped partly by news of strong employment data from  Washington, but ended the week still under $50 a barrel.
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SINGAPORE -- Crude oil prices climbed back above the key $50 mark in Asian trade today,creeping close to an all-time high. After settling at $49.
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Oil prices surged closer to $50 a barrel after hitting yet another record high in the US yesterday, as confusion reigned over the fate of Najaf, sparking fresh fears about Iraq&#39;s oil supplies.
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Oil prices jumped more than a dollar,  climbing above $48 a barrel on Wednesday after U.S. data showed  the disruption caused by Hurricane Ivan had eaten into fuel  stocks.
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Oil prices were hovering close to last weekâs record high today after breaking through the 50 US dollars mark again. Production problems in the Gulf of Mexico due to
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Oil prices are pushing past the psychological barrier of $50 a barrel Tuesday. Prices are rising in part because of the slow recovery of production in the Gulf of Mexico following Hurricane Ivan.
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NEW YORK - The price of oil settled above $50 a barrel for the first time yesterday amid worries about tight supplies and production problems because of hurricanes in the Gulf of Mexico.