Oil rebounds on Nigeria, gasoline supply concerns
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Oil prices rebounded on Tuesday to near $70 a barrel in London on lingering concerns over Nigerian crude production at the start of peak gasoline demand in top consumer, the United States.
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Outlook for growing demand as supply is crimped by events in Nigeria and Iran sends crude prices higher.
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Oil rose on Tuesday, as the market grappled with worries over an economic slowdown in the United States and supply concerns from Venezuela and Nigeria.
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Oil rose towards $60 a barrel on Friday, drawing strength from a disruption to supply in Nigeria and as a fall in the U.S. dollar boosted other commodities.
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Crude oil prices rebounded Friday after declining over the past week as traders worried about supply disruptions in Iraq and Nigeria.
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Crude oil futures briefly climbed back  over $50 a barrel on Thursday, with worries over the security  of Nigerian supplies supporting prices despite a surprise  increase in U.S. crude inventories.
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Oil rebounded above $95 a barrel on Tuesday after falling 3 percent a day earlier as the potential of a recession in top fuel consumer the United States led investors to expect lower demand.
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Oil prices rebounded higher on Friday, with prices in New York closing above US$50 a barrel for the first time, as traders fretted about Nigerian oil production amid a threatened rebel uprising.
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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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Oil prices rebounded on Tuesday as  fresh violence rocked Iraq ahead of elections later this month  and as Saudi Arabia, OPEC's top producer, said it is making  good on a pledge to cut output.
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Oil futures spiked above $70 a barrel yesterday for the first time since Sept. 1 after a government report showed gasoline inventories dropped unexpectedly as the summer driving season neared its peak.
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Analysts say OPEC could cut of oil production quota on Fridayâs meeting if US oil prices keep sliding. LONDON - Oil prices rebounded Monday after falling sharply last week on receding supply worries, buoyed
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Oil prices bounced back on Friday, ending this week&#39;s 8 percent slide on renewed winter supply fears and jitters ahead of next week&#39;s US presidential election.
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Oil prices rose to record highs Monday  near $50 a barrel for U.S. crude as Nigeria emerged as the  latest focus for worries about supply in an already tight  worldwide energy market.
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Oil prices bounced back on Friday, ending this week&#39;s 8 per cent slide on renewed winter supply fears and jitters ahead of next week&#39;s US presidential election.
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Oil prices rebounded quickly from a brief fall late last week as fierce fighting in the Iraqi city of Najaf overshadowed Iraq&#39;s resumption of full exports following a two-week disruption.
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NEW YORK -- Oil prices neared $49 a barrel yesterday, capping a rise of 7 percent for the week, as Gulf of Mexico crude production rebounded at a slower-than-expected rate in the wake of Hurricane Ivan.