Oil Ends Above $53 on Supply Worries
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Oil prices hit another record on  Friday, trading as high as $53.40 a barrel, on supply worries  ahead of a planned oil worker strike in Nigeria and delays in  post-Hurricane Ivan U.S. output recovery efforts.
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Oil prices ended above the  $50-a-barrel mark on Friday amid concern over possible conflict  in Nigeria's oil-producing delta region, where a two-day truce  between rebel militia and government forces is holding.
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NEW YORK -- The price of oil settled above $50 US a barrel for the first time yesterday amid concerns over tight supplies globally and hurricane-related production problems in the Gulf of Mexico.
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Oil prices held strong above $53 a  barrel on Wednesday as worries over a winter supply crunch  countered expectations that high fuel costs would curb growth  in petroleum demand next year.
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US oil prices held above $46 a barrel on Tuesday on worries of a major supply disruption at a time when producers are pumping at full tilt to meet strong demand.
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Oil prices climbed Friday, closing above $55 a barrel for the first time, on worries that supplies will be stretched thin this winter while demand from China remains solid.
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Oil rebounded above $66 a barrel on   Tuesday, with bargain-hunting traders ending a six-day retreat   after Iran sounded a softer note on its atomic program and OPEC   agreed to keep production steady for now.
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Oil prices broke above $55 a barrel on Tuesday as concern lingered over thin world heating oil supplies ahead of the northern winter.
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Oil prices surged to record highs above  $54 on Tuesday as supply hitches hindered efforts to build  winter heating fuel inventories.
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U.S. oil prices held above $46 a  barrel on Tuesday on worries of a major supply disruption at a  time when producers are pumping at full tilt to meet strong  demand.
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Oil climbed above $61 to its highest this year on Friday after top fuel consumer the United States reported an unexpected drop in gasoline stocks and Iran said it would show 'no weakness' over its nuclear program.
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Oil prices ended above the $50-a-barrel mark on Friday amid concern over possible conflict in Nigeria's oil-producing delta region, where a two-day truce between rebel militia and government forces is holding.
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Oil climbed above $61 to its highest level this year on Friday after top fuel consumer the United States reported an unexpected drop in gasoline stocks and Iran said it would show "no weakness" over its nuclear program.
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Crude oil futures have jumped back above $53 on speculation and panic sparked by an oil line explosion in Mexico. Traders are also nervously monitoring developments in Nigeria&#39;s national strike and recovery efforts in the Gulf of Mexico.
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Oil prices rebounded to above $66 a  barrel on Tuesday, with bargain-hunting traders ending a  six-day retreat after Iran sounded a softer note on its atomic  program and OPEC agreed to keep production steady for now.
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Oil prices hovered just below Monday&#39;s record peaks in Asian trade, amid continued worries over tight supplies. US light sweet crude was worth $53.
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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.