Update 16: Oil Prices Pass $54 on Supply Concerns
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Oil prices surpassed $54 a barrel Tuesday due to nagging concerns in the market that the global supply buffer is too thin to handle a significant output disruption.
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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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Crude oil broke through the record $54 (US) a barrel level briefly before falling sharply yesterday as no new shocks threatened to disrupt global supplies and traders took profits.
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Crude oil prices climbed back to the $54 US level Wednesday, reversing a two-day slide, after the US government&#39;s weekly petroleum supply report showed a fifth straight week of declining inventories of distillate fuel, which includes heating
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Oil edged above $58 a barrel on Thursday in volatile trade that has trapped prices in a narrow range.
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Oil futures prices surged above $54 US a barrel Thursday after government data showed a sharp decline in US supplies of distillate fuel, which includes heating oil.
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Oil prices hit all-time highs near 54 dollars in Asian trade as a general strike in Africa's biggest oil producer Nigeria turned the heat up further on jittery market and brought 65 dollars within sight.
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Oil steadied above $62 on Friday as   burgeoning U.S. inventories and slower-than-expected economic   growth balanced possible action from some OPEC producers to   trim output to halt the decline in prices.
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Oil prices have set new record highs above $54 a barrel for US crude, with global supplies hounded by outages that are thwarting efforts to build winter heating oil inventories.
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Oil prices have fallen sharply after briefly surpassing $54 a barrel amid nagging concerns in the market that the global supply buffer is too thin to handle a significant output disruption.
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NEW YORK - An unexpected dip in oil prices - just hours after crude pushed past $54 per barrel - cheered investors Tuesday, moving stocks off their lows in late trading and keeping the major indexes mixed.    Initially, Wall Street's worries over oil grew as the International Energy Agency raised its forecast for world demand, and as price speculation increased after the Russian government ordered the sale of part of Yukos, that nation's top producer, to pay back taxes...
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Oil prices were little changed on Thursday, holding above &#36;43 a barrel despite latest data showing rising stocks of winter heating fuels in the United States as mild weather suppressed demand.
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Oil futures dipped below $46 a barrel yesterday as traders assessed what appeared to be a short-lived cold snap in the United States, where cold weather and tight heating oil supplies helped drive prices higher last week.
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NEW YORK - The price of oil settled above $50 a barrel for the first time Friday amid concerns about tight supplies globally and hurricane-related production problems in the Gulf of Mexico.    On the New York Mercantile Exchange, crude for November delivery settled at a record $50.12 per barrel, up 48 cents...
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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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The price of oil settled above $50 a barrel for the first time Friday amid concerns about tight supplies globally and hurricane-related production problems in the Gulf of Mexico.
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Oil steadied above $62 on Friday,   supported by signals that some OPEC producers may trim output   to stem a price decline caused by ample U.S. inventories.