Oil Nears $55 as U.S. Winter Stocks Fall
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Oil prices roared up to fresh record  highs on Thursday to end near $55 a barrel, as the U.S.  government reported another fall in heating fuel stocks ahead  of winter.
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Oil slid below $63 a barrel on Friday   touching its lowest level since March as U.S. fuel stockpiles   grew ahead of winter and investors probed for a price that   would trigger an OPEC supply cut.
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Oil prices rallied to a record above  $55 a barrel Monday on concerns over a winter fuel supply  crunch, and as traders took comments from a top U.S. official  to mean high prices have yet to really dent American demand.
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High-flying oil prices neared $50 a  barrel on Monday as a blizzard enveloped the U.S. Northeast,  draining U.S. heating oil stocks.
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Oil prices climbed again yesterday, closing above $55 a barrel for the first time, on concerns that supplies will be stretched thin this winter while demand from China remains solid.
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Oil fell below $63 a barrel on Friday,   its lowest level since March, as ample U.S. fuel stocks looked   set to meet winter heating demand in the world's biggest   consumer.
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Oil prices have rebounded from seven-week lows as US heating oil stocks fell for an eighth straight week ahead of winter. US light crude was up 58 cents at $47.
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Oil prices held strong on Friday not far  below the $55-a-barrel mark as traders worried time is running  out to top up low heating oil inventories before winter.
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LONDON - Oil prices charged back up to $55 a barrel this week as a fresh fall in US heating oil stocks stoked worries over winter supplies.
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Oil prices eased on Thursday but held near $61.50 a barrel after a climb the previous day on unexpectedly large falls in U.S. fuel inventories.
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Oil prices simmered near $55 a barrel  on Friday on rising fears of a winter fuel supply crunch and  robust but slowing economic growth in China, the world's number  two oil user.
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Oil prices held steady on Friday near  7-week lows on forecasts for colder-than-normal weather in the  U.S. Northeast.
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Crude oil futures inched toward the 55 dollar milestone today, a day after US officials announced a decline in their countryâs inventory of heating oil, heating a market already on edge over tight supplies, high demand and unrest in key producers.
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A decline in the nation&#39;s inventory of heating oil catapulted crude futures prices toward $55 a barrel yesterday, providing the latest jolt to a market already
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Crude oil futures rose above 55 dollars a barrel Friday as concerns about the global supply of heating oil persisted ahead of winter in the Northern Hemisphere.
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U.S. oil prices were slightly softer on Monday after a four-day break, but the threat of a cold winter stretching persistently low global heating oil inventories kept the market within sight of &#36;50 a barrel.
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SINGAPORE - Crude oil futures hovered around the US$55-a-barrel mark Wednesday on fears of a heating oil shortage ahead of the northern winter, and oil cartel OPEC urged Washington to release more oil from its strategic reserve to calm the market.