Oil rises to $58 on low stocks after 2 pct fall
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Oil prices rebounded to $58 on Thursday after fuel stocks in the United States were cut by freezing weather and as buyers reemerged following a 2 percent sell-off the previous day.
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Crude-oil prices rebounded Friday but remained below $50 a barrel after declining 4 percent in the last week due to rising US supplies of crude and natural gas.
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Oil steadied at a seven-day high of   just under $63 a barrel on Thursday, following the previous   day's $2 leap as traders awaited clearer signs from OPEC on   whether it would cut output to counter swelling U.S. stocks.
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NEW YORK - Oil prices jumped nearly two dollars on Thursday after the US government said crude stocks fell to a fresh five-month low last week and distillate fuel inventories barely grew ahead of winter.
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Oil prices climbed back above $59 a barrel on Wednesday as a blast of cold weather boosts heating oil demand in the United States and OPEC supply cuts quicken the seasonal fall in crude stocks in industrialised countries.
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Oil slid further below $58 a barrel on Thursday after its repeated failure to breach $60 triggered a two-percent sell-off the previous day.
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Oil prices made fresh gains Friday, after leaping almost $2 a day earlier, as the US government said crude stocks sank for the sixth straight week last week and distillate fuels barely grew ahead of winter.
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Oil prices nudged higher for a second   day on Monday, struggling to end their steepest slump in more   than a decade amid robust winter fuel stocks and easing   geopolitical and weather risks to oil supplies.
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U.S. oil prices were steady on  Thursday, holding gains of nearly $2 from a day earlier after a  U.S. government report showed crude oil stocks falling to their  lowest level in five months.
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Oil prices flew back above $54 a barrel  on Wednesday as a fresh fall in U.S. heating oil stocks stoked  worries over winter supplies.
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Oil prices climbed back above $59 a barrel on Wednesday ahead of an expected sharp fall in U.S. heating oil stocks as a blast of cold weather boosted demand in the world's top consumer.
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LONDON: Oil prices made fresh gains on Friday after leaping almost $2 a day earlier the US government said crude stocks sank for the sixth straight week last week and distillate fuels barely grew ahead of winter.
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Oil prices made fresh gains on Friday after leaping almost $2 a day earlier the US government said crude stocks sank for the sixth straight week last week and distillate fuels barely grew ahead of winter.
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Oil climbed towards $94 a barrel on Thursday, supported by a smaller-than-expected rise in U.S. crude stocks as imports slowed and refiners revved up.
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New York - US stocks edged higher on Friday. Oil prices fell below $43 a barrel, helping Wall Street withstand a disappointing jobs creation report.
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Oil hovered below $58 a barrel on Tuesday, after it slid $2 the previous day on signs OPEC will keep output stable when it meets in March.
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Oil edged above $58 a barrel on Thursday in volatile trade that has trapped prices in a narrow range.