Oil prices gain on hurricane worries
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LONDON : Oil prices bolted higher on fears of disruption to production and import activity in the Gulf of Mexico because of Hurricane Ivan, traders said.
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World oil prices rose on Friday, boosted by production stoppages due to a severe hurricane in the Gulf of Mexico and worries that another storm might further delay imports into the United States.
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Oil prices climbed more than $2 higher on Friday on renewed concern over supplies of distillate fuels in all main consuming centers before the Northern Hemisphere winter.
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World oil prices rose on Friday on  worries that the ongoing storm season in the U.S. Gulf would  continue to hamper energy production and imports, delaying  vital pre-winter stock building.
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Oil prices have gone up sharply in the past month because of production snags in the Gulf of Mexico, where more than 22.6 million barrels of production have been lost since Hurricane Ivan hit mid-September.
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World oil prices rose on Tuesday as  Hurricane Ivan charged toward the oil-rich Gulf of Mexico,  where energy companies evacuated thousands of offshore workers  and halted some production.
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Crude oil rose for a second day on concern about the loss of production and possible damage from Hurricane Ivan, which passed just east of most Gulf of Mexico production platforms.
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Business & money: Concerns that a fresh wave of hurricanes could hit American oil installations.
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U.S. oil prices hovered just shy of  $44 a barrel on Tuesday, awaiting the arrival of Hurricane Ivan  in the oil-rich Gulf of Mexico, where energy companies had  evacuated thousands of offshore workers and shut some  production.
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Oil prices rose on Friday as worries a  cold spell in the United States could erode already depleted  winter fuel inventories spurred the market higher.
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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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Oil prices rose Thursday as a tropical depression near Mexico raised concerns about possible disruptions to oil and gas production.
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Oil prices headed up toward $45 a  barrel on Wednesday as Hurricane Ivan shut 60 percent of crude  output in the Gulf of Mexico and at least five refiners along  the U.S. coast planned to close as a precaution.
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Oil jumped $1 past $75 a barrel on Tuesday as a top U.S. hurricane forecaster called for a busy end to the Atlantic storm season, raising concerns over potential oil and gas disruptions.
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Oil prices were steady on Wednesday as  Hurricane Ivan's effect on crude output and refineries in the  Gulf of Mexico balanced OPEC's attempts to reassure traders  with a four percent output ceiling hike.
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WORLD oil prices rose yesterday as Hurricane Ivan charged towards the oil-rich Gulf of Mexico, where energy companies evacuated thousands of offshore workers and halted some production.
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Crude oil prices rose to a record in New York and London after hurricanes in the Gulf of Mexico curbed US production for more than three weeks, slowing the accumulation of supplies to meet winter needs.