Oil returns to trade above $54
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Light crude turns higher after report shows a fresh fall in US heating oil and diesel fuel stocks. NEW YORK (CNN/Money) - Oil prices surged back above $54 a barrel on Wednesday as a fresh fall in US heating oil stocks stoked worries over winter supplies.
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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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SAN FRANCISCO (AFX) -- Crude-oil futures climbed back toward $54 a barrel, with traders eagerly awaiting weekly petroleum data to find out how the recovery in the Gulf of Mexico has affected US oil and natural-gas inventories.
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Oil gained nearly $1 to trade above $62 a barrel on Thursday after OPEC decided to cut its output by 2 percent starting in February.
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Oil rose above &#36;71 a barrel on Thursday,  paring an earlier loss, after a smaller-than-expected rise in  gasoline inventories in the United States, the world&#039;s largest  oil consumer.
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Crude oil prices rose above 54 US dollars Thursday on speculation sparked by a pipeline explosion inMexico and a continued work stoppage in Nigeria.
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Oil prices rebounded toward $58 on Thursday after freezing weather cut fuel stocks in the world's top oil consumer, the United States and as buyers re-emerged following a 2 percent sell-off the previous day.
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Crude oil for delivery next month settled at $46.05 a barrel, down 53 cents, on the New York Mercantile Exchange after briefly trading at a new high of $46.91 early in the day.
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Oil prices have moved above $54 a barrel after the government reported a decline in the supply of distillate fuel, which includes heating oil.
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Oil futures prices surpassed $54 a barrel Tuesday on supply concerns in Nigeria and the Gulf of Mexico, where hurricane damage to pipelines and production platforms could curb output for months.
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NEW YORK - Oil prices jumped to record highs above US$54 on Tuesday as supply hitches hindered efforts to build northern hemisphere winter heating fuel inventories.
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SINGAPORE - Crude oil pushed back through the $54 threshold on Thursday after a pipeline explosion in Mexico stirred supply fears, but it eased slightly in the early afternoon.    A continuing strike in Africa's largest producer, Nigeria, also affected prices as traders waited anxiously for key U.S...
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Crude oil futures rose above $50 a barrel in New York on concern rebel attacks in Nigeria may reduce production while US inventories are near a 29-year low because of disruptions caused by Hurricane Ivan.
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Oil prices set historic highs near  $54 a barrel Tuesday, with global supplies hounded by outages  that were thwarting efforts to build U.S. heating oil  inventories ahead of the winter.
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Oil prices jumped to record highs  above $54 on Tuesday as supply hitches hindered efforts to  build winter heating fuel inventories. They later shed more  than a $1 a barrel as traders took profits from the surge.
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Oil prices surged to record highs above  $54 on Tuesday as a fire at Nigerian export pipeline became the  latest threat to consumers' efforts to build winter heating  fuel inventories.
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SINGAPORE -- Crude oil prices climbed back above the key $50 mark in Asian trade today,creeping close to an all-time high. After settling at $49.