Shipowners&#39; threat sends oil soaring
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The threat of a lock-out by Norwegian shipowners which would halt production at the world&#39;s third-biggest crude producer has sent oil prices to record highs.
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LONDON -- Oil scaled a new high above $55 a barrel Monday as a threat by Norwegian ship owners to halt production from the world&#39;s third biggest exporter stoked fears of a winter supply crunch.
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World oil prices are on the rise, as Hurricane Ivan threatens to disrupt oil flow in the Gulf of Mexico.
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Oil prices hit fresh record levels after Norwegian ship owners threaten to cut off supplies from the world's third biggest exporter.
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Oil prices surged to a new high above $47 a barrel spurred by concern for the safety of oil facilities in Iraq.
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Oil surged to record highs near &#36;76  on Thursday as worries over lower U.S. crude stocks were  underlined by increased tension in the oil-rich Middle East and  suspected explosions at a pipeline in OPEC exporter Nigeria.
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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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Business & money: Violent storms in the North Sea helped push global oil prices to new highs of just under $100 per barrel.
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Oil prices jumped above $75 a barrel on Tuesday after a top U.S. hurricane forecaster called for a busy end to the Atlantic storm season, raising concerns over potential disruptions to oil and gas production.
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Oil prices jumped nearly 4 percent  Thursday after the International Energy Agency warned that  greater-than-expected demand and disappointing world production  growth could strain world supplies.
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Oil futures surged 5 percent Friday to reach their highest level this month as colder weather sent shivers through the spines of investors who had been anticipating lower prices.
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World crude prices have risen amid fears that supplies from the oil-rich Gulf of Mexico could be disrupted by Hurricane Ivan. Energy companies have evacuated thousands of offshore workers and shut down some production in the region.
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Crude oil prices surged to a new high Monday on supply concerns ahead of the winter, a possible petroleum-industry strike in Norway and data showing that China&#39;s big demand for oil is likely to increase.
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LONDON, England -- Oil prices have surged to historic levels as a threat of civil war in Nigeria adds to concerns over tight global supplies.
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London oil prices hit record highs on Monday as worries about the stability of supplies from Iraq, Nigeria and Russia compounded concerns over low US fuel stocks ahead of winter.
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The sharp rise in oil prices which recently creeps towards $60 per barrel has put many energy industries and those reliant on energy on the edge for fear of the adverse affects of escalating prices.
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The American economic ship, which has weathered the recent run-up in crude oil prices, may be more vulnerable to sudden surges in the price of money.