Oil Back Up to &#36;55 on U.S. Winter Stocks
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Oil prices charged back up to &#36;55 a barrel on Wednesday as a fresh fall in U.S. heating oil stocks stoked worries over winter supplies.
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Oil prices head back toward record highs on concerns about supply ahead of the cold winter months.
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Oil prices climbed back above $59 a barrel on Wednesday as a blast of cold weather boosts heating oil demand in the United States and OPEC supply cuts quicken the seasonal fall in crude stocks in industrialised countries.
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World oil prices rose on Friday,  building on gains of almost $2 in the previous session when 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 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 made fresh gains above $55 a barrel led by record-breaking heating oil prices amid fears of winter supply shortages across America.
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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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Oil prices extended gains above &#36;41 a barrel on Tuesday on forecasts of colder temperatures in the U.S. Northeast, a supply cut by top OPEC producer Saudi Arabia and disruptions to Iraqi crude exports.
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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 U.S. demand.
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Oil prices rose on Wednesday as a U.S. government report showed heating fuel stocks in the world's largest energy consumer remained tight ahead of the winter, despite a small build in distillate supplies.
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Oil prices held strong on Friday not far  below $55 as traders worried time is running out to top up low  heating oil inventories before winter.
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Oil prices held firm on Friday after  leaping almost $2 a day earlier on news U.S. crude stocks sank  to a five-month low last week and distillate fuels barely grew  ahead of 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 futures prices have jumped 5 percent higher, climbing above $44 a barrel in the United States Wednesday after US government data showed a slight decline in crude and heating oil supplies as colder weather in the Northeast drove up
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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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Oil prices stayed close to &#36;49 a barrel on Thursday, supported by a forecast for an early cold snap in the United States that could put a strain on a thin supply cushion of winter heating fuel.
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Oil stood above $60 on Tuesday after forecasts of a cold spell in the U.S. Northeast buoyed heating oil, and as a weaker dollar and a Saudi warning of possible new output curbs bolstered the market.