Oil firm over $96, geopolitical worries lurk
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Oil held firm above $96 a barrel on Monday, heading for its biggest annual gain this decade as growing geopolitical concerns and dwindling consumer nation stockpiles outweighed the risk of a softening U.S. economy.
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Oil prices rose $2 on Tuesday on worries over tight inventories in the United States, the world's biggest energy consumer, and a threat of violence in Nigeria's oil region.
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Oil vaulted to a record $100 a barrel on Wednesday as geopolitical turmoil, tight energy stockpiles in consumer countries, and a weak dollar triggered a flood of speculative buying, dealers said.
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Oil prices edged up toward $48 a barrel early on Friday as worries that an early or severe winter could stress low winter fuel stocks helped staunch the market&#39;s $8 tumble from record highs.
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Oil steadied near $96 a barrel on Monday, heading for its biggest annual gain this decade as dwindling fuel stocks and growing concern over political turmoil offset the impact of a softening U.S. economy.
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Oil prices eased but held over $76 on Monday, as expectations OPEC will maintain supply curbs on Tuesday countered weak U.S. jobs data that raised concerns of a recession in the world's top consumer.
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Crude oil prices surged to settle above 48 dollars per barrel Friday as traders concerned that OPEC might scale back output later this year.
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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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Oil futures have jumped to their highest closing on record on the New York Mercantile Exchange, rising 76 US cents to $US49.64 dollars a barrel, as unrest in Nigeria and Saudi Arabia alarmed traders.
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Oil steadied above $62 on Friday,   supported by signals that some OPEC producers may trim output   to stem a price decline caused by ample U.S. inventories.
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Oil held near $97 a barrel on Friday,  within sight of its record high, bolstered by a fall in U.S.  fuel inventories and mounting tension in Pakistan and northern  Iraq.
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U.S. oil prices held above &#36;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 rose above $98 a barrel before falling back on Monday as reports of rising tensions in the Middle East outweighed concerns of demand outlook in top consumer United States from a feared economic recession.
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Business & money: Crude oil over $100 a barrel for the first time, following jitters over possible tightening of supply
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Oil rose above $96 a barrel on Monday, heading for its biggest annual gain this decade as dwindling fuel stocks and growing concern over political turmoil offset the impact of a softening U.S. economy.
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Oil firmed almost $1 to above $97 a barrel on Friday, within sight of its record high, bolstered by a fall in U.S. fuel inventories and mounting tension in Pakistan and northern Iraq.
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Oil prices pushed above $49 a barrel  on Monday, approaching record levels as worries about the  stability of supplies from Iraq, Nigeria and Russia compounded  concerns over low fuel stocks ahead of winter.