Crude Oil Trades Near Record on Concern Chinese Demand is Straining Supply
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Crude oil traded near Friday s record close in New York on concern Chinese demand, which helped push oil prices up 70 percent this year, may rise faster than expected.
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Oil prices have surged past a record $55 per a barrel in Asian trade, amid concerns over winter fuel supplies. The price of crude for November delivery on the New York Mercantile Exchange hit $55.
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Crude oil in New York traded near a record after exceeding $50 a barrel yesterday on threats to Nigeria&#39;s oil output and as US production remains lower than normal because of damage from Hurricane Ivan.
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Oil prices held firm on Tuesday as China  showed no let-up in its strong import growth and U.S. Gulf  producers reported damage to offshore rigs from Hurricane Ivan.
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Crude oil in New York traded near a record high as US producers in the Gulf of Mexico struggled to restore output cut by Hurricane Ivan at a time when refiners are trying to build up winter-fuel supplies.
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Crude oil surpassed $50 a barrel and was close to a record in New York as US production in the Gulf of Mexico took longer than expected to recover, slowing the buildup of inventories to meet winter needs.
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Crude oil futures traded near a record in New York as damage to pipelines and pumps on the Gulf of Mexico caused by Hurricane Ivan cut supplies before winter.
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Crude oil fell in London, leading to its biggest three-day drop in a month, on rising US stockpiles and concern China is taking steps to slow demand in the world&#39;s second-largest oil consuming nation.
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As oil prices keep setting new record highs, there are growing concerns that Asia's energy-hungry economies can no longer continue absorbing the impact with crude creeping toward 60 dollars a barrel.
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Oil prices deepened this week's 8 percent rout on Friday, edging nearer &#36;50 a barrel as China's surprise interest rate rise stirred concerns over demand growth from the world's second largest energy user.
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Crude oil futures stayed within range of the $55 milestone Friday, a day after a decline in the US inventory of heating oil roiled a market already on edge over tight supplies, high demand and unrest among key producers.
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Crude oil futures may fall on speculation China&#39;s first interest rate rise in nine years will slow demand growth amid rising US inventories, a Bloomberg survey shows.
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Crude oil futures continued to climb Friday, reaching a record high as decline in the US inventory of heating oil and tight supplies still overshadowed the energy markets.
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Crude oil prices stay close to record levels at more than $51 a barrel, amid production problems in the Gulf of Mexico.
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NEW YORK, Aug. 19 (Xinhuanet) -- Crude oil futures jumped to new record high Thursday as market concerned that Iraqi exports might drop further because of clashes in southern Iraq between US troopsand fighters loyal to Shiite Muslim cleric Moqtada ...
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SAN FRANCISCO (AFX) -- Crude-oil futures closed higher to tally a gain of 5 percent for the month, lifted by growing doubt that ChinaÃ¢â¬â¢s interest-rate hike will dampen energy demand, and the ever-existing possibility that supply disruptions could
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NEW YORK : Crude oil futures jumped to a record high closing on the New York Mercantile Exchange Friday, as markets fretted over tight US supplies despite a decision to release small amounts from a strategic reserve.