Oil Futures Prices Rise 4.5% on Outsize Drop in Supplies
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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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The price of oil jumped above $48 a barrel Monday on concerns about tight winter fuel supplies mixed with speculation that OPEC may scale back output.
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Oil prices shot up 5 percent yesterday and closed above $45 a barrel after an early spurt of buying created momentum that forced investors anticipating lower prices to cover their bets.
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NEW YORK - Oil prices continued climbing on Wednesday as supply concerns lingered and a weekly report showed US crude inventories were smaller than expected.
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Oil futures prices have jumped 5 percent higher, climbing above $44 a barrel in the United States Wednesday after US government data showed a slight decline in crude and heating oil supplies as colder weather in the Northeast drove up
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Crude futures bounced higher Tuesday following a six per cent drop the day before as forecasts for warmer weather in the US eased worries about tight supplies of winter fuel.
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Oil prices soared Friday as worries about heating fuel supplies and technical trading factors pushed prices sharply higher.
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Crude oil prices briefly rose above 55 dollars a barrel today, as traders continue to worry about supply ahead of winter. Crude for November delivery hit 55 dollars, 33 cents
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NEW YORK, December 15  - Oil futures prices rose this morning after the US Energy Department reported a marginal decline in the countryâs supplies of crude and heating oil.
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New York - Oil prices rose sharply Wednesday following the release of a US government report that said crude supplies fell by more than expected last week due to disruptions caused by Hurricane Ivan.
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Oil prices bounded higher for the fourth day in a row Tuesday, with traders expecting further declines in the nation&#39;s supply as petroleum producers disrupted by Hurricane Ivan continue to regroup.
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Crude oil futures jumped toward $44 a barrel yesterday as traders appeared to remain concerned about tight supplies of heating oil ahead of the government's next petroleum supply report and as colder weather approached the Northeast.
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Crude oil futures jumped toward $44 a barrel Tuesday as traders appeared to remain concerned about tight supplies of heating oil ahead of the government's next petroleum supply report and as colder weather approached the U.S. Northeast.
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US crude oil futures have surged above $55 a barrel in electronic trading due to widespread worries about northern winter fuel supplies, traders said.
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The price of oil futures jumped sharply Wednesday when a disappointing decline in the US heating-oil supply trumped growth in the crude stockpile.
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Crude oil futures rose to within a quarter of $50 a barrel yesterday after a gas leak shut down a North Sea oil production platform, and as traders weighed concerns about heating oil supplies against the fact that temperatures have been mild in recent weeks.
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The price of crude oil surged 4.8 percent in New York yesterday, the biggest rise in more than five months, on concern that cold weather in Europe will draw heating oil from the United States.