All the evidence points to even higher oil prices in the future
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The world&#39;s major stock markets tried hard this week to ignore the proverbial elephant at the table -- record high oil prices -- but it is getting harder and harder to do so.
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Oil prices surged over $47 a barrel on  Wednesday on evidence that energy costs are not substantially  slowing the economic growth that fuels oil demand and fresh  threats by rebel militia against Iraqi oil facilities.
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Local analysts said the jump in world oil prices, if sustained, could push up petrol prices another 42c/l in coming months, boosting inflation and slowing down spending in the economy.
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Some experts fear that a boom in gas demand for electricity generation will send prices even higher.
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Singapore - Crude oil prices surged past an unprecedented $55 per barrel Monday, driven by uncertainty over production, high demand and tight global supplies ahead of the Northern Hemisphere winter.
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Shares look set to open higher on Thursday with economic data dominating investors' agenda as the oil price hits a two-month high.
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Rising oil prices are expected to hit China's growth rate this year.
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People who heat their homes with oil, electricity or propane Â almost half the country Â are likely to see prices rise.
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This winter, rising oil prices will translate into higher heating bills for households.
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NEW YORK, October 18  - Crude oil prices increased to new record high levels for the third consecutive day, reaching $55.
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Some companies are dealing with rising oil costs in unique ways.
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WASHINGTON - High oil prices, which have been a factor in virtually all U.S. recessions over the past three decades, are surging again this year...
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Get ready for new-home prices and remodeling costs to jump even higher because of unexpected continuing demand in America, also because of the construction explosion in China, record worldwide oil prices and, now, a triple play of devastating hurricanes.
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Oil prices surged to a new high of $47 a barrel on Wednesday on evidence from major economies that energy costs are not substantially slowing the economic growth that fuels oil demand.
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Oil prices surged more than 2 percent  on Wednesday amid worries a possible OPEC output cut this  spring could quickly sap swelling crude and gasoline stockpiles  in the United States.
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Here's a way to benefit from an increase in the global demand for oil.
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Oil prices surged above $47 a barrel on  Wednesday on evidence that energy costs are not substantially  slowing the economic growth that fuels oil demand and new  reports of  rebel militia attacking Iraqi oil facilities.