Crude Oil Jumps to Record on Concern Over Low US Supplies
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Crude oil prices surged to a record in New York and London on concern that hurricane damage to production platforms in the Gulf of Mexico will keep supplies from rising enough to meet winter needs.
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The price of oil rose to a record $47 a barrel in New York on Wednesday on jitters about supplies from Iraq and Russia&#39;s Yukos, before the release of a report that could show a third straight weekly drop in US inventories.
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NEW YORK - Crude oil futures gained more than $2 US a barrel Friday as slumping inventories and frigid forecasts pushed oil to its highest level of the month.
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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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Oil prices rallied to a record above $55 a barrel Monday on concerns over a winter fuel supply crunch, and as traders took comments from a top US official to mean high
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Crude oil prices hovered near an all-time record high of US$49.40 as supply fears in Iraq and other key producers pushed up early trading Monday, while the market took stock of Hurricane Ivan&#39;s impact on oil rigs in the Gulf of Mexico.
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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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Oil prices climbed above $47 a barrel, setting yet another record, after figures showed that supplies in the United States were down for a third consecutive week.
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LONDON: Oil&#39;s record-breaking rally has taken US crude over $US52 a barrel, fuelled by the impact of Hurricane Ivan on US winter inventories.
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SINGAPORE -- Oil prices jumped to a trading record above $98 a barrel Wednesday amid expectations of declining U.S. supplies and following news of an attack on a Yemeni oil pipeline.
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Crude oil prices neared their all-time record high of $49.40 US as supply fears in Iraq and other key producers pushed up early trade Monday, while the market took stock of hurricane Ivan&#39;s impact on oil rigs in the Gulf of Mexico.
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Oil prices surged within touching distance of record highs after an unexpected fall in US crude stockpiles fanned supply fears.
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Crude oil prices hit the US$54 mark yesterday, fueled by continuing worries over supply in Nigeria and reduced output in the hurricane-hobbled Gulf of Mexico.
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Oil prices surged to new record highs  again Tuesday, taking U.S. crude above $54, with global  supplies hounded by outages that are thwarting efforts to build  winter heating fuel inventories.
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Crude oil prices jumped above $51 a barrel yesterday, setting a fresh record amid a prolonged production shut-down in the Gulf of Mexico in the wake of Hurricane Ivan.
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Crude oil prices surged to a record, exceeding $51 a barrel in New York for the first time, amid concern that hurricane damage to production platforms in the Gulf of Mexico will keep supplies from rising enough to meet winter needs.
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World oil prices rose to a new record high above 55 US dollars a barrel Friday, stirring fears of 60-dollar-a-barrel New York crude, as concerns about the global supply of heating