Crude futures rise on colder weather
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Oil prices rose 2 percent yesterday on the back of a rally in heating oil and natural gas futures that was supported by colder weather in the Western Hemisphere.
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Crude oil futures traded near a record after rising above $51 a barrel yesterday on concern hurricane damage to production platforms in the Gulf of Mexico will keep supplies from rising enough to meet winter demand.
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Crude futures rose Tuesday as traders awaited US oil inventory data, and analysts said the market fundamentals were pointing to higher prices in the coming weeks.
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Crude oil futures rose Wednesday ahead of an extended weekend for traders, even though weekly government data showed rising domestic inventories of crude and distillate fuel, which includes heating oil.
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Oil prices rose 2 percent Tuesday on the back of a rally in heating oil and natural gas futures that was supported by colder weather in the Western Hemisphere.
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Crude oil prices rose Wednesday even as the government report showed a sharp increase in US inventories of crude oil. On the New York Mercantile Exchange, crude futures for
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Oil rose on Thursday as forecasts for  colder weather in the giant U.S. Northeast heating oil market  overcame worries over the economic health of the world's top  consumer.
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Oil prices climbed above $42 a barrel on  Wednesday, rising for the third day in a row as cold weather  gripped the U.S. Northeast, the world's biggest heating fuel  market.
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Oil futures stabilized Thursday after a jump in prices the previous day that reflected a drop in US crude and heating oil stocks even as demand was rising with cold weather spreading across the US Northeast and Midwest.
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LONDON  - Oil prices pushed higher, extending sharp gains seen late last week as cold weather forecasts for the United States and Europe rattled markets nervous about tight winter supplies.
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Crude futures bounced higher Tuesday following a 6 percent drop the day before as forecasts for warmer weather in the US eased worries about tight supplies of winter fuel.
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Oil bounced back above $59 a barrel on Tuesday as the coldest weather of the U.S. winter was expected to draw down heating oil stocks.
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Oil futures prices bolted 5 percent higher yesterday, climbing above $44 a barrel after US government data showed a slight decline in crude and heating oil supplies as colder weather in the Northeast drove up fuel demand.
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Crude oil futures jumped toward $44 a barrel Tuesday as traders appeared to remain concerned about tight supplies of heating oil ahead of the government's next petroleum supply report and as colder weather approached the U.S. Northeast.
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NEW YORK - Crude oil futures gained more than $2 US a barrel Friday as slumping inventories and frigid forecasts pushed oil to its highest level of the month.
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Crude oil futures rose for a second day after surging more than $2 a barrel yesterday when the government reported a decline in US heating-oil inventories and as below- normal temperatures this week boosted demand.
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Crude oil futures are headed for their biggest weekly gain in 21 months on speculation cold weather may boost demand in the US Northeast, where 80 percent of the country&#39;s heating oil is used.