Oil chases fresh time
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WORLD oil prices smashed to record highs today as concerns over hot global demand swamped news of a peace deal in Iraq with Muslim Shiite militia leader Moqtada Sadr.
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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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: Oil prices searched for direction today, supported by worries of a cold snap in the Western Hemisphere but weakened by selling on the bet that OPEC&#39;s decision to cut production would not end short-term oversupply.
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Oil prices raced to fresh highs on  Friday, carrying U.S. crude over $49 a barrel, driven by  escalating violence in Iraq and unabated fuel demand growth  from China and India.
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Oil prices held strong on Friday not far below the &#36;55-a-barrel mark as traders worried time is running out to top up low heating oil inventories before winter.
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Oil prices made fresh gains on Friday  after leaping almost $2 a day earlier the U.S. government said  crude stocks sank for the sixth straight week last week and  distillate fuels barely grew ahead of winter.
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Oil prices have continued their record-breaking run on Wednesday, busting through the $47-mark amid concerns that demand will outstrip supply.
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Oil prices have raced to new record high levels after oil majors evacuated workers in Nigeria and police clashed with suspected Islamic militants in the Saudi Arabian capital, Riyadh.
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OPEC, pumping oil at the fastest pace in 25 years, has little ammunition left to reduce near- record prices at a meeting this week, and some analysts are forecasting crude above $40 a barrel for the rest of the year.
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Oil prices hit fresh highs on Friday, lifting U.S. crude above &#36;49 a barrel, driven by escalating violence in Iraq and unabated fuel demand growth from China and India.
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OIL continues to set new records by the day. Last Friday, it was in whispering distance of $50 a barrel as Iraq and the woes of the giant Russian producer, Yukos, kept markets on tenterhooks.
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Oil prices held firm just above $47 a  barrel on Friday, bolstered by a tightening outlook for market  fundamentals and sliding U.S. temperatures.
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WASHINGTON -- Despite record oil prices and strong projected demand from China and the United States, major oil firms are skimping on their exploration budgets and pocketing big profits while waiting out the storm of high prices, oil analysts say.
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Oil prices hit fresh records again on  Monday, pushing London Brent crude above $50 for the first time  and extending a relentless rise that has added around 65  percent to the cost of crude this year.
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The price of oil looks set to grab headlines as analysts forecast that its record-breaking run may well continue.
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Oil prices hit fresh records on Monday,  pushing London Brent crude above $50 for the first time and  extending a relentless rise that has added around 65 percent to  the cost of crude this year.
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World oil prices raced to record highs on Thursday as news of a decline in heating oil inventories rattled traders in the run-up to the northern hemisphere winter.