Oil Over $49 on Heating Fuel, Iraq
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Oil prices rallied further on Monday,  clawing back toward $50 a barrel for U.S. crude on heightened  concerns over low supplies of winter heating fuels.
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Oil prices pushed above &#36;49 a barrel on Monday, approaching record levels as worries about the stability of supplies from Iraq, Nigeria and Russia compounded concerns over low fuel stocks ahead of winter.
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Crude oil surpassed $50 a barrel for the first time and analysts said Tuesday that prices could keep rising because of a sharp rise in global demand, tight supplies and threats to output in petroleum-producing nations such as Iraq and Nigeria.
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By Malcolm Moore, Economics Correspondent (Filed: 21/08/2004). The price of oil came close to $50 a barrel in New York yesterday, as fighting between US forces and Moqtada al-Sadr&#39;s militia in Iraq continued to inflame the market.
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Oil prices broke into fresh record  territory above $52 Thursday on heightened concerns over tight  winter heating fuel supplies.
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US crude prices on the New York Mercantile Exchange have hit fresh record highs, hitting $49.45 a barrel, up more than 50 percent from the start of the year.
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Global oil prices rallied to fresh highs on Friday with US crude approaching $49, driven by escalating violence in Iraq and unabated demand growth from China and India.
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Global oil prices raced to fresh  highs on Friday with U.S. crude approaching $49, driven by  escalating violence in Iraq and unabated demand growth from  China and India.
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Iraq's crucial oil and electricity sectors still need roughly $50 billion to meet demand, analysts and officials say, even after the United States has poured more than $6 billion into them over more than four years.
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Oil prices struck a fresh record just  under $49 a barrel on Thursday, spurred higher by renewed  violence in Iraq and fresh evidence that strong demand growth  in China and India has not been slowed by higher energy costs.
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Oil prices jumped to a new record  high near $47 on Monday with traders on tenterhooks for the  result of Venezuela's weekend referendum and Iraq's exports  again disrupted by a Shi'ite uprising in the south.
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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 surged above $47 a barrel on  Wednesday on evidence that energy costs are not substantially  slowing the economic growth that fuels oil demand and new  reports of  rebel militia attacking Iraqi oil facilities.
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U.S. oil futures set a new record $47.01  a barrel on Wednesday after a new threat against Iraq's oil  sector by rebel Shi'ite militia.  U.S. crude traded up 26 cents  to set a new high in the 21-year history of the New York  Mercantile Exchange contract.
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Crude oil rose to a record $49.74 a barrel in New York amid concern rebel attacks in Nigeria will reduce production and US refiners will struggle to replenish supplies disrupted by Hurricane Ivan.
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Crude oil prices neared US$49 per barrel Friday as Gulf of Mexico crude production rebounded at a slower pace than analysts had expected.
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Oil prices hit fresh highs on Friday,  lifting U.S. crude above $49 a barrel, driven by escalating  violence in Iraq and unabated fuel demand growth from China and  India.