Surging oil prices foreshadow crisis
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As crude oil prices hit new highs again last week, Canadians filled up their cars, sport-utility vehicles and vans without missing a beat.
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A combination of political jitters about the Middle East and supply concerns for winter helped drive the price of crude oil briefly past $88 a barrel in New York yesterday.
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The price of crude oil surged past $55 a barrel Monday as uncertainty swirled over production, high demand and tight global supplies.
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The absolute price of oil has reached a new high. The growth     of the economies in China, India and the rest of Asia are increasing the demand     for oil. There are production problems in Venezuela (strikes and sabotage), Norway (strikes), Nigeria (civil war), Iraq (sabotage) and Russia (internal politics). Hurricane Ivan and other hurricanes this year disrupted     production in the Gulf of Mexico and transportation of oil in the Atlantic.     In the next decade Eastern Europe will also require more oil to feed its growing economies. The price of crude oil has led to     prices of above $55 a barrel and lifted heating oil to a record and     natural gas to a 20-month high. Though prices may eventually fall a bit, they are likely to remain higher than we were once     accustomed.    However, all is not gloom and doom.
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SINGAPORE - Crude oil prices surged past an unprecedented $55 per barrel Monday as uncertainty swirls over production, high demand and tight global supplies.    Crude for November delivery on the New York Mercantile Exchange hit $55.33 per barrel around noon in Asia, up 40 cents from its Friday settlement price...
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Washington: Oil futures surged five per cent to reach their highest level this month as colder weather sent shivers through the spines of investors who had been anticipating lower prices.
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The price of oil is on the rise as fears grow that Hurricane Ivan could disrupt oil supplies from the Gulf of Mexico.
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The housing crisis and high oil prices may cause a slump, analysts warn.
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Oil surged above $70 on Monday on news a cyclone was headed towards the oil-producing Arabian peninsula with a potential to disrupt shipping and output.
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LONDON : Oil prices raced ahead to new record high levels in London and approached 50 dollars in New York as unrest in oil producers Nigeria and Saudi Arabia stoked supply worries, traders said.
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Some companies are dealing with rising oil costs in unique ways.
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OIL prices surged past $50 a barrel yesterday, driven to the historic high by the threat of an armed uprising in Nigeria against the government and multinationals.
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Crude oil futures have jumped back above $53 on speculation and panic sparked by an oil line explosion in Mexico. Traders are also nervously monitoring developments in Nigeria&#39;s national strike and recovery efforts in the Gulf of Mexico.
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ELEANOR HALL: The high price of oil is already threatening global economic growth, but that price could yet be pushed higher by events in Russia.
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The price of oil hit another high yesterday, closing above $47 a barrel as traders reacted to continuing concerns about supply disruptions from terrorism and instability in oil-producing countries.
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The price of crude oil reaches new record levels amid concerns about possible unrest in Venezuela and the threat of sabotage in Iraq.
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Oil prices have surged to two-week highs following news that supplies in the US are tightening. In New York on Thursday, the cost of a barrel of oil rose almost $2 to $44.