Crude futures rise as heating oil stores fall
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Crude oil futures prices climbed yesterday on the back of a rally in heating oil after the US government said the nation's supply of distillate fuel declined for the ninth consecutive week.
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Crude oil rose for the first day in four on speculation that US inventory gains and forecasts for rising temperatures didn&#39;t justify yesterday&#39;s 6.5 percent decline in prices.
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Oil prices edged up from seven-week lows  below $47 a barrel on Wednesday as U.S. crude oil inventories  grew again ahead of winter but heating oil stocks fell.
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CRUDE oil futures fell yesterday after the American government reported a slight increase in the US inventory of crude. The supply of distillate fuel, which includes heating oil, also increased, following
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U.S. stocks rose on Wednesday as crude  oil futures fell more than $2 a barrel on a big jump in U.S.  petroleum supply, easing worries about the impact of energy  costs on corporate profits and economic growth.
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Crude oil futures rose to a record in New York for a third day on speculation US demand for heating oil will deplete inventories this winter.
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WASHINGTON -- Oil futures prices surged to new heights above $55 US a barrel yesterday as concerns about the global supply of heating oil persist ahead of winter.
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Crude oil futures inched toward the 55 dollar milestone today, a day after US officials announced a decline in their countryâs inventory of heating oil, heating a market already on edge over tight supplies, high demand and unrest in key producers.
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SINGAPORE - Crude oil futures hovered around the US$55-a-barrel mark Wednesday on fears of a heating oil shortage ahead of the northern winter, and oil cartel OPEC urged Washington to release more oil from its strategic reserve to calm the market.
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Crude oil futures rose above 55 dollars a barrel Friday as concerns about the global supply of heating oil persisted ahead of winter in the Northern Hemisphere.
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Crude oil futures may fall for a second week on speculation that rising temperatures in the eastern US will reduce demand for heating oil, a Bloomberg survey of traders and analysts shows.
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Crude oil futures briefly surpassed $50 a barrel Tuesday before retreating sharply amid concerns about low US heating oil inventories ahead of winter.
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Crude futures fell by more $2 a barrel on Monday as traders anticipated warmer weather in the US Northeast later in the week and responded to weekend snowstorms in the US Midwest that kept motorists off the road.
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Crude oil futures stayed above US$55 a barrel Wednesday, over fears of a heating oil shortage before an expected cold Northern Hemisphere winter.
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Crude oil futures prices rose Wednesday amid concerns about tight heating oil supplies and fears that OPEC could rein in output when it meets later this week.
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Crude futures bounced higher Tuesday following a 6 percent drop the day before as forecasts for warmer weather in the US eased worries about tight supplies of winter fuel.
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Crude oil futures fell, extending last week&#39;s 4 percent decline, on speculation rising US oil supplies will be sufficient to meet winter fuel demand.