Oil Rises to Record as China&#39;s Growth Expected to Boost Demand
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Crude oil futures rose to a record $55.45 a barrel in New York after a report that the Chinese economy grew more than expected. Oil&#39;s rally lifted heating oil to a record and natural gas to a 20-month high.
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New market set as demand in China, India intensifies supply worries, Iraq lends price support. NEW YORK (CNN/Money) - Oil prices blazed past $47.50 a barrel and set fresh highs early Thursday as demand growth in China and India exacerbated supply shortage ...
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China's top oil firm, PetroChina, expects to raise more than $9bn  for its Shanghai market listing.
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Oil prices surged to a new high above  $47 a barrel on Wednesday on evidence that energy costs are not  substantially slowing the economic growth that fuels oil  demand.
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Oil closed above $55 a barrel yesterday for the first time as traders worried about low stockpiles of heating oil and strong economic growth in China.
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Chinese imports and soaring crude oil prices fuel an 8.9 percent rise in October for a record $55.5 billion gap. By Jeannine Aversa.
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Oil prices held firm on Tuesday as China showed no let-up in its strong import growth and US Gulf producers reported damage to offshore rigs from Hurricane Ivan.
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BEIJING China Petroleum Chemical, Asia&#39;s biggest oil refiner, posted a 51 percent increase in first-half profit on Monday, reflecting rising demand for fuel from China&#39;s motorists and power generators.
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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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OPEC will increase oil production by 500,000 barrels a day to meet an expected surge in winter consumption.
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Crude oil traded near Friday s record close in New York on concern Chinese demand, which helped push oil prices up 70 percent this year, may rise faster than expected.
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SINGAPORE -- Crude oil futures rose to a record for a third day Monday, surpassing $55 in New York on speculation US demand for heating oil will deplete inventories this winter.
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The International Energy Agency on Friday raised its forecast for world oil demand for next year by 115,000 barrels per day because of demand from emerging economies.
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PetroChina, Chinaâs largest oil and gas producer, said it planned to make an initial public offering of shares in Shanghai that may be Chinaâs largest, raising more than $9 billion.
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Crude oil in New York traded near Friday s record close amid concern growing Chinese demand may strain supplies at a time when spare global production capacity is limited.
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Oil soared to another record yesterday on worries that global energy supplies could shrink to critical levels during this winter heating season because of strong growth in demand.
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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. Fresh threats by rebel militia in Iraq  against oil facilities helped underpin price gains.