Oil Surges After US Reports Supplies Fell More Than Expected
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Crude-oil futures surged almost $2 a barrel, the biggest increase in two months, after the Energy Department reported that US oil supplies declined more than expected.
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Oil rose more than $1 to over $61 a barrel on Thursday after U.S. government data showed a sharp fall in fuel supplies last week.
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Crude oil prices surged above the US$55-per-barrel mark on Monday on concerns that tight global supply would lead to a further drop in US inventories of heating oil ahead of the winter season.
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Fears of tightening US oil inventories sent crude soaring yesterday to its biggest one-day gain in two months, cutting short the recent downward drift in prices.
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Crude oil futures surged Wednesday as the US Energy Department reported US oil supplies fell more than expected. Crude oil for October delivery rose 1.68 dollars to 43.
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Crude oil rose almost 2 percent on speculation that US inventories will fall in coming weeks as temperatures drop. Supply gains may cease as cold weather moves into the eastern US next month.
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Oil prices fell Wednesday after the government reported that US inventories of crude rose 3.4 million barrels last week, surprising many traders and analysts who had expected to see supplies shrink because of lingering output problems
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Oil&#39;s record-breaking rally lifted US crude beyond $52 a barrel on Wednesday, fueled by the impact of Hurricane Ivan on US winter inventories.
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Oil prices abruptly ended a losing streak on Wednesday, jumping nearly $1 after a US government report showed heating oil stockpiles down 16 percent from last year ahead of winter.
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Crude oil tumbled more than $3, its biggest decline in three years, after a government report showing an increase in US heating oil inventories spurred expectations of adequate supplies this winter.
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Oil prices jumped on Thursday after the  U.S. government said that crude stocks fell to a fresh  five-month low last week, as refineries worked hard to meet  demand.
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Oil fell nearly $2 a barrel on Wednesday  after a U.S. government report showed larger-than-expected  increases in crude and gasoline stockpiles in the world&#39;s  biggest consumer.
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Oil fell more than $1 a barrel on Wednesday after a U.S. government report showed larger than expected increases in crude and gasoline stockpiles in the world's top consumer.
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Oil prices rose in early trading Wednesday after the government reported that supplies shrank more than expected following production and shipping disruptions caused by Hurricane Ivan.
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Crude oil futures prices surged by almost $2 a barrel yesterday, the biggest increase in two months, after the Energy Department reported that United States oil supplies had declined more than expected.
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Oil prices jumped from a four-month low on Wednesday as slow growth in US heating fuel inventories heightened fears for tight winter supplies.
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Oil futures prices climbed above $46 a barrel yesterday after the US government reported that commercial inventories of crude and heating oil fell last week and as traders considered the effect of global supply snags and forecasts calling for colder weather.