Oil Above $41 as Saudi Cuts Supplies
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Oil prices climbed above $41 a barrel  on Monday after Saudi Arabia cut January crude deliveries to  clients in Asia, confirming that the top exporter was adhering  to OPEC's agreement last week to curb excess supply.
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Oil prices surged nearly $2 a barrel yesterday following two bombings in the capital of Saudi Arabia and after the US government reported that winter fuel supplies shrank last week.
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Oil prices extended gains above &#36;41 a barrel on Tuesday on forecasts of colder temperatures in the U.S. Northeast, a supply cut by top OPEC producer Saudi Arabia and disruptions to Iraqi crude exports.
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Oil prices jumped almost $1 to more than $62 a barrel this afternoon after the Organization of Petroleum Exporting Countries announced plans to cut production by 500,000 barrels a day.
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Oil rose more than $1 to above $62 a barrel on Thursday after OPEC decided to cut its output by 2 percent starting in February.
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Oil prices pushed through new highs above 55 US dollars a barrel Monday amid concerns over high demand and tight supplies ahead of the Northern Hemisphere winter.
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Oil surged beyond $90 to a new peak on Friday as tight fuel stocks ahead of winter and a softening dollar spurred investor buying.
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Oil prices climbed above $63 a barrel on Friday as dense fog delayed crude shipments to refineries along the U.S. Gulf Coast a day after OPEC agreed to cut output for a second time in two months.
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Oil prices jumped early yesterday on news reports that the Organization of the Petroleum Exporting Countries, which supplies about 40 percent of the world's oil, was preparing to cut output to bolster sagging prices. But prices closed virtually unchanged at $60.03 a barrel because it remained...
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Oil rose toward $62 a barrel on   Tuesday as producer group OPEC kindled fears of production   cuts, saying oil's steep slide from record peaks had brought   prices too low.
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WASHINGTON -- Oil prices shot up above $48 US per barrel yesterday after the US government reported that supplies shrank more than expected following production and shipping disruptions caused by hurricane Ivan.
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Oil prices held firm above $41 a barrel  on Tuesday as colder weather in the U.S. brought temperatures  more into line with seasonal norms, spurring heating oil  buying.
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Crude oil prices surged past an unprecedented $55 a barrel before sliding back in overnight trading Monday, amid ongoing uncertainty over production, high demand and tight global supplies.
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Oil prices surge past a record $55 per a barrel in Asian trade, amid concerns over winter fuel supplies.
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NEW YORK, October 26  - Crude oil prices resumed their upward rally to close at above $55 per barrel today, with a shift in focus back to the potential winter shortfall in the US inventories of heating oil, diesel and gasoline.
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The price of oil hit another high yesterday, closing above $47 a barrel as traders reacted to continuing concerns about supply disruptions from terrorism and instability in oil-producing countries.
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Crude oil futures rose above $41 a barrel yesterday as traders focused on OPEC's planned production cutback and colder weather in the United States.