Crude Oil Futures Rise Above $50 on Threat to Nigerian Supply
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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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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 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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Crude oil prices jumped beyond $50 a barrel yesterday, renewing concerns that sustained high energy costs will further weaken the US economy.
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NEW YORK: Oil prices pierced the $50-a-barrel mark again last night amid concern over possible conflict in Nigeria&#39;s oil-producing delta region, where a two-day truce between rebel militia and government forces is holding.
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U.S. crude oil futures hit a new  record on Tuesday at $50.01 a barrel as worries about the  stability of supplies from Iraq, Nigeria and Russia compounded  concerns over low fuel stocks ahead of peak winter demand.
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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 raced to new highs above $50  on Tuesday as rebel threats against Nigerian oil facilities  threatened to inflict further strain on global supplies.
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Crude oil futures surged to within striking range of $50 a barrel yesterday, though traders were split on where the market was headed next.
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Crude oil climbed back over $50 a  barrel on Thursday, with worries over the security of Nigerian  supplies supporting prices despite a surprise increase in U.S.  crude inventories.
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Crude oil in New York traded near a record after exceeding $50 a barrel yesterday on threats to Nigeria&#39;s oil output and as US production remains lower than normal because of damage from Hurricane Ivan.
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Oil prices raced to new record highs  above $50 on Tuesday as rebel threats against Nigerian oil  facilities threatened to inflict further strain on global  supplies.
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LONDON: World oil prices surged into new record territory above $50 a barrel Tuesday as traders took fright at a multitude of supply threats, including unrest in Nigeria and recent hurricanes.
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Oil prices pierced the $50-a-barrel  mark again on Friday amid concern over possible conflict in  Nigeria's oil-producing delta region, where a two-day truce  between rebel militia and government forces is holding.
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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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U.S. oil prices reached a record $50 a  barrel on Monday as Nigeria emerged as the latest focus for  worries about supply in an already tight worldwide energy  market.
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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.