Oil Sets Record as New Violence Flares in Iraq
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Oil prices struck a fresh record on  Thursday, spurred higher by renewed violence in Iraq and fresh  evidence that strong demand growth in China and India has not  been slowed yet by higher energy costs.
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Aug. 20 (Bloomberg) -- Crude oil futures rose to a record, surpassing $49 a barrel in New York, on concern clashes in southern Iraq between US troops and Shiite Muslim militiamen may cut exports.
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Oil prices rebounded on Tuesday as  fresh violence rocked Iraq ahead of elections later this month  and as Saudi Arabia, OPEC's top producer, said it is making  good on a pledge to cut output.
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U.S. crude oil futures hit a new  record on Tuesday at $50.01 a barrel as worries about the  stability of supplies from Iraq, Nigeria and Russia compounded  concerns over low fuel stocks ahead of peak winter demand.
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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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THE cost of oil soared to a record $US49.64 a barrel today as unrest in Nigeria and Saudi Arabia alarmed traders. Oil futures jumped to their highest closing price on record on the New York Mercantile Exchange.
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By Andrew MItchell LONDON  - Oil prices raced to new record highs above $50 on Tuesday as rebel threats against Nigerian oil facilities threatened to inflict further strain on global supplies.
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Iraq is producing an average of 2.5 million barrels of oil a day, its highest level since the war began in 2003, an oil ministry spokesman said Wednesday.
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Oil prices struck another record high on Thursday and remained supported above &#36;47 by a fall in U.S. crude stockpiles and threats by insurgents in Iraq against oil facilities.
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Violence in Iraq rose across the board this fall to the highest levels on record, fueled by the growth of Shiite militia that have replaced al-Qaeda as the most dangerous force propelling the nation toward civil war, according to a new Pentagon report released this afternoon.
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LONDON: World oil prices rose yesterday on concerns over the possibility of further unrest in major producer Iraq despite a ceasefire in Najaf, where fighting has raged for weeks, traders said.
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NEW YORK : New York crude oil smashed past 48 dollars a barrel for the first time, menacing the 50-dollar mark, as heavy fighting gripped the Iraqi city of Najaf.
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Oil prices surged above $47 a barrel on  Wednesday on evidence that energy costs are not substantially  slowing the economic growth that fuels oil demand and new  reports of  rebel militia attacking Iraqi oil facilities.
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Oil prices raced to new record highs above $50 on Tuesday, despite a pledge by OPEC producer Saudi Arabia to increase production, as rebel threats against Nigerian oil facilities threatened to inflict further strain on global supplies
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Oil prices struck another record high  on Thursday and remained supported above $47 by a fall in U.S.  crude stockpiles and threats by insurgents in Iraq against oil  facilities.
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Oil prices raced to new record highs  above $50 on Tuesday as rebel threats against Nigerian oil  facilities threatened to inflict further strain on global  supplies.
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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.