Oil Ends Above $50 on Nigeria Fears
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Oil prices ended above $50 a barrel on Friday amid concern over possible fighting between rebels and the military in Nigeria&#39;s oil-rich delta region.
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Oil prices rose to record highs Monday  near $50 a barrel for U.S. crude as Nigeria emerged as the  latest focus for worries about supply in an already tight  worldwide energy market.
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Oil prices have neared last week&#39;s record high after bouncing back above the $50-a-barrel mark despite a peace deal between rebel gangs in Nigeria.
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NEW YORK -- Crude oil futures briefly climbed back over $50 a barrel yesterday, with worries over the security of Nigerian supplies supporting prices despite a surprise increase in US crude inventories.
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Crude oil futures rose above $50 a barrel in New York on concern rebel attacks in Nigeria may reduce production while US inventories are near a 29-year low because of disruptions caused by Hurricane Ivan.
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NEW YORK - Oil prices closed above $50 a barrel for the first time in New York trading Friday, as traders fretted about Nigerian oil production amid a threatened rebel uprising.
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World oil prices marched towards 50 dollars per barrel, touching new highs in pre-opening electronic trading as fighting raged in major producer Iraq.
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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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NEW YORK -- The price of oil settled above $50 US a barrel for the first time yesterday amid concerns over tight supplies globally and hurricane-related production problems in the Gulf of Mexico.
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World oil prices hit new records above $50 a barrel Tuesday amid fears that problems in oil-producing nations mean that oil supplies may not meet strong demand.
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Crude oil prices breached the psychological mark of US$50-per-barrel on Tuesday on worries that production shutdowns from hurricanes in the Gulf of Mexico and growing unrest in Nigeria would undermine global supply of black gold.
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Oil prices slid toward $49 a barrel  on Thursday after U.S. crude stocks rose unexpectedly and  rebels in Nigeria's oil-rich delta region agreed to a  cease-fire with the government, reducing an imminent threat to  supplies.
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Oil prices closed above $50 a barrel for the first time yesterday as concerns linger about damage to oil production in the Gulf of Mexico from Hurricane Ivan.
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Oil should continue to flow from Nigeria despite a rebel threat to attack foreign oil workers, which has sent world oil prices to record levels above $50 a barrel, multinational energy companies said.
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The price of crude oil surged above $50 a barrel in after-hours trading yesterday, raising fears of an economic slowdown and higher prices at the gas pump.
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Oil prices pierced the $50-a-barrel mark again today amid concern over possible conflict in Nigeria's oil-producing delta region.
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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.