Oil prices rise after consulate attack
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Crude oil futures rose yesterday for the first time in a week, climbing above $43 a barrel after an attack at the US consulate in Saudi Arabia and amid growing concerns that OPEC may try to firm-up oil prices after last week's sharp sell-off.
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markets. Exports had been sharply reduced due to sabotage and threats from militants. Oil prices rose to nearly $50. (27.5 pounds) a barrel last week but have since eased.
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World crude prices rise amid fears that oil supplies from the Gulf of Mexico could be disrupted by Hurricane Ivan, and as saboteurs strike a pipeline in Iraq.
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WASHINGTON -- Oil prices shot up above $48 US per barrel yesterday after the US government reported that supplies shrank more than expected following production and shipping disruptions caused by hurricane Ivan.
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Crude oil prices spiked above $92 a barrel Friday on tensions in the Middle East and renewed concerns about supply.
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Oil prices have surged to a new high of $47 a barrel after a new threat by rebel militia against Iraqi oil facilities, and as the United States says inflation has stayed in check despite rising energy costs.
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Oil prices jumped more than a dollar,  climbing above $48 a barrel Wednesday after U.S. data showed  the disruption caused by Hurricane Ivan had eaten into fuel  stocks.
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Stocks look to open flat on Monday, with oil prices moving higher and the dollar holding near record lows. An attack by suspected Muslim militants on a US consulate
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Oil prices increased for a second day on Wednesday after the twin car bombings in the Saudi capital, Riyadh . US light crude oil prices finished at $43.64 a barrel, increasing by $1.87, or 4.47 percent, on the New York Mercantile Exchange.
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Oil prices rose on Wednesday ahead of a  weekly government report on U.S. stockpiles as tensions  simmered in the Middle East following the killing of former  Lebanese Prime Minister Rafik al-Hariri.
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Oil prices edged higher on Thursday from a heavy drop the day before as renewed violence and sabotage attacks in Iraq revived fears over supply disruptions.
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Oil prices were forced higher today by an outbreak of violence in Saudi Arabia and concerns that Opec may cut output. The cost of a barrel of light, sweet crude oil climbed
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The price of oil hit another high yesterday, closing above $47 a barrel as traders reacted to continuing concerns about supply disruptions from terrorism and instability in oil-producing countries.
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OIL prices rose from three- month lows yesterday as political unrest overseas renewed concerns about supplies, while some Organisation of Petroleum Exporting Countries members started talking about cutting production to protect their incomes.
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Oil prices headed higher after Nigerian locals seized oil pumping stations, with news of an attack on the US consulate in Jeddah, Saudi Arabia, also pushing prices higher, dealers said.
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Oil prices rose on Friday, stemming five days of heavy losses as fresh sabotage attacks on Iraqi oil infrastructure despite a peace deal in Najaf renewed concern over the country&#39;s supplies.
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By George Chamberlin , Daily Transcript Financial Correspondent. Word of new terrorist attacks in Saudi Arabia on Wednesday sent oil prices higher and stocks lower.