Cold blast boosts crude, heating oil demand
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Oil prices edged higher yesterday, lifted by chilly weather across the Midwest and Northeast that is boosting the demand for heating fuel.
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Oil prices climbed to a seven-week  high above $49 a barrel on Tuesday as a cold front swept into  the U.S. Northeast, stoking winter fuel demand.
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U.S. crude oil futures rose to a fresh  six-week high on Friday as frigid weather swooped into the  Northeast heating oil market, threatening to strain already  tight winter fuel stockpiles.
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Oil prices surged nearly 6 percent on Wednesday as the US government reported a fall in heating oil stocks in the midst of the season&#39;s first arctic cold blast in the Northeast.
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Crude oil climbed to a two-week high on concern colder winter weather will drain supplies of North American and European heating fuels before inventories rebound.
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Oil prices stayed close to six-week highs on Friday on forecasts that a bout of cold weather in the United States would raise demand for heating fuels and natural gas.
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Oil prices rose sharply on Friday as  worries a cold spell in the United States could erode already  depleted winter fuel inventories spurred the market higher.
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Oil prices climbed back above $59 a  barrel on Wednesday ahead of an expected sharp fall in weekly  U.S. distillate stocks as a blast of cold weather boosted  heating fuel demand in the world's top consumer.
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Crude oil rose and natural gas soared in New York as the approach of Hurricane Ivan disrupted production and tanker shipments in the Gulf of Mexico, where a quarter of US oil and natural gas is pumped.
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Oil prices climbed back above $59 a barrel on Wednesday ahead of an expected sharp fall in weekly U.S. distillate stocks as a blast of cold weather boosted heating fuel demand in the world's top consumer.
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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 surged nearly $2 a barrel Wednesday following two bombings in the capital of Saudi Arabia and after the U.S. government reported that winter fuel supplies shrank last week.
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Oil prices perked up from 7-week lows on  Friday on forecasts for colder-than-normal weather in the U.S.  Northeast.
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Freezing temperatures across much of the US push oil prices back up sharply to nearly $60 a barrel.
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Oil prices steadied above $48 a  barrel on Wednesday as a cold snap in the U.S. Northeast  overshadowed an expected build in crude and product  inventories.
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Oil prices climbed nearly a dollar on Monday, moving above &#36;46 a barrel on escalating sabotage at Iraqi oil facilities and the risk that a U.S. cold spell would strain thin winter fuel supplies.
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Oil prices climbed to a seven-week high above &#36;49 a barrel on Tuesday as a cold front swept into the U.S. Northeast, stoking winter fuel demand.