Oil price hits its highest this year
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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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WASHINGTON -- High oil prices, a factor in virtually all US recessions over the past three decades, are surging again this year. And the higher crude oil prices climb, the more risk energy costs pose to what, until recently, many expected to be a banner year for the US economy.
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NEW YORK -- Oil prices have moved to fresh record highs of almost $47 a barrel on concerns about potential supply disruptions in Russia and Iraq.
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Oil prices hit a record high Thursday of more than $90 a barrel after reports indicated that the Organization of Petroleum Exporting Countries has no plans to increase production.
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Oil prices hit a fresh high above $82 a barrel after US interest rates are cut by half a percentage point.
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-- Oil prices climbed to a new high, above $81 a barrel, on expectations that the U.S. Federal Reserve will cut a key interest rate later Tuesday, a measure that has the potential to bolster the economy and strengthen petroleum demand in the world's largest energy consumer.
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High oil prices, which have een a factor in virtually all US recessions over the past three decades, are surging again this year. And the higher crude oil prices climb, the more risk energy
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Oil prices surged to a new high of $47 a  barrel on Wednesday on evidence from major economies that  energy costs are not substantially slowing the economic growth  that fuels oil demand. Fresh threats by rebel militia in Iraq  against oil facilities helped underpin price gains.
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Oil prices today hit a new high amid fears over low fuel stocks as winter approaches and renewed concern about the security of supplies.
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World oil prices have shot to record highs as concern grows about even more expensive fuel at the petrol pumps. In London, Brent North Sea crude oil for delivery in November surpassed $50 a barrel for the first time in the contract&#39;s 16-year history.
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The price of Brent crude oil struck an historic peak of 86.28 dollars per barrel in trading here Thursday on renewed concerns over tight global energy supplies.
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Oil prices hit fresh highs on Friday,  lifting U.S. crude above $49 a barrel, driven by escalating  violence in Iraq and unabated fuel demand growth from China and  India.
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The price of oil jumped to another high on Monday, in part because of dramatic disruptions caused by hurricanes whipping through the Gulf of Mexico.
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Oil prices surged above $55-a-barrel on Friday as concerns about the global supply of winter fuels persist ahead of the Northern Hemisphere winter.
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US crude prices on the New York Mercantile Exchange have hit fresh record highs, hitting $49.45 a barrel, up more than 50 percent from the start of the year.
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Oil hit a record high above $79 a barrel on Wednesday, propelled by an unexpectedly large drop in U.S. crude oil stocks that coincided with only a small output increase from OPEC ahead of peak winter demand.
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WASHINGTON - High oil prices, which have been a factor in virtually all U.S. recessions over the past three decades, are surging again this year...