Oil hits record near $80 on tight supply
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Crude oil prices vaulted to a record high near $80 a barrel on Wednesday as dealers focused on tight inventories in top consumer the United States ahead of peak winter demand.
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Oil shrugged off early losses to head back near $80 on Monday, within sight of its record high, as the market focused on a Federal Reserve meeting that is widely expected to cut interest rates.
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Oil fell after surging to a record high above $90 a barrel earlier on Friday as tight fuel stocks ahead of winter and a softening U.S. dollar spurred investor buying.
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Oil held near $80 a barrel after earlier rising to its third record high in as many days on Friday amid concerns over low inventories of fuel in consuming nations.
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Oil jumped to a record high near $94 a barrel on Monday as stormy weather disrupted supplies from giant exporter Mexico and the dollar wallowed near record lows.
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Oil fell after hitting an all-time high of $80.20 on Thursday after Hurricane Humberto forced the closure of some U.S. Gulf refiners and stoked concerns of fuel shortages this winter.
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The October contract for light, sweet crude finished at a record $80.09, up 18 cents on the New York Mercantile Exchange.
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Oil vaulted to a record $100 a barrel on Wednesday as geopolitical turmoil, tight energy stockpiles, and a weak dollar triggered a flood of speculative buying, dealers said.
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Oil prices surged to record highs above  $54 on Tuesday as supply hitches hindered efforts to build  winter heating fuel inventories.
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Oil prices hit a fresh intraday record high Wednesday, passing $80 a barrel for the first time ever, after the government said supplies of crude oil fell far more than expected.
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Oil  breaches the $81 a barrel mark on worries about rising demand amid constrained supply.
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Oil eased after surging to a record high above $90 a barrel earlier on Friday as tight fuel stocks ahead of winter and a softening U.S. dollar spurred investor buying.
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OIL prices hit a new record yesterday, near $51 a barrel, as a prolonged US production stoppage following Hurricane Ivan attracted fresh speculative buying.
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Oil prices struck a fresh record high  above $47 a barrel on Thursday as fresh evidence of demand  growth in China and India underlined how rising appetite for  oil is straining the world's supply system.
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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 broke into fresh record territory above $52 on Thursday on heightened concerns over tight winter heating fuel supplies.
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Oil prices rose to record highs Monday near $50 a barrel for US crude as Nigeria emerged as the latest focus for worries about supply in an already tight worldwide energy market.