Oil Rises Above $49 a Barrel as Iraq Fighting Threatens Exports
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Aug. 20 (Bloomberg) -- Crude oil futures rose to a record, surpassing $49 a barrel in New York, on concern that fighting between US forces and followers of Shiite Muslim cleric Moqtada al-Sadr will cut shipments.
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Oil edged up above $64 a barrel on   Wednesday as traders cautiously await the debate among members   of the U.N. nuclear watchdog over Iran's atomic work, and on   renewed concerns over disruptions to Nigerian supplies.
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markets. Exports had been sharply reduced due to sabotage and threats from militants. Oil prices rose to nearly $50. (27.5 pounds) a barrel last week but have since eased.
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U.S. oil futures set a new record &#36;47.01 a barrel on Wednesday after a new threat against Iraq's oil sector by rebel Shi'ite militia.  U.S. crude traded up 26 cents to set a new high in the 21-year history of the New York Mercantile Exchange contract.
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Oil prices have raced to fresh highs, carrying US crude over $49 a barrel, driven by escalating violence in Iraq and unabated fuel demand growth from China and India.
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Oil prices surged over $47 a barrel on  Wednesday on evidence that energy costs are not substantially  slowing the economic growth that fuels oil demand and fresh  threats by rebel militia against Iraqi oil facilities.
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Crude oil surpassed $50 a barrel for the first time and analysts said Tuesday that prices could keep rising because of a sharp rise in global demand, tight supplies and threats to output in petroleum-producing nations such as Iraq and Nigeria.    Homeowners and energy-intensive industries could feel the sting from high oil prices worsen as seasonal demand picks up this winter, and there is already evidence that the supply disruptions caused by Hurricane Ivan are making it more costly to drive...
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Oil prices jumped to a new record high near &#36;47 on Monday with traders on tenterhooks for the result of Venezuela's weekend referendum and Iraq's exports again disrupted by a Shi'ite uprising in the south.
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Crude oil prices neared their all-time record high of $49.40 US as supply fears in Iraq and other key producers pushed up early trade Monday, while the market took stock of hurricane Ivan&#39;s impact on oil rigs in the Gulf of Mexico.
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NEW YORK : New York crude oil smashed past 48 dollars a barrel for the first time, menacing the 50-dollar mark, as heavy fighting gripped the Iraqi city of Najaf.
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U.S. oil prices rose on Monday as Iraq's  oil exports continued at more than 30 percent below normal  after sabotage attacks on pipelines.
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Oil prices struck a fresh record on  Thursday, spurred higher by renewed violence in Iraq and fresh  evidence that strong demand growth in China and India has not  been slowed yet by higher energy costs.
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Global oil prices raced to fresh highs  on Friday carrying U.S. crude close to $49 a barrel, driven by  escalating violence in Iraq and unabated demand growth from  China and India.
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U.S. oil futures set a new record $47.01  a barrel on Wednesday after a new threat against Iraq's oil  sector by rebel Shi'ite militia.  U.S. crude traded up 26 cents  to set a new high in the 21-year history of the New York  Mercantile Exchange contract.
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Crude oil prices hovered near an all-time record high of US$49.40 as supply fears in Iraq and other key producers pushed up early trading Monday, while the market took stock of Hurricane Ivan&#39;s impact on oil rigs in the Gulf of Mexico.
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Oil prices edged higher on Thursday  from a heavy drop the day before as renewed violence and  sabotage attacks in Iraq revived fears over supply disruptions.
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Crude oil surpassed $50 a barrel for the first time and analysts said Tuesday that prices could keep rising because of a sharp rise in global demand, tight supplies and threats to output in petroleum-producing nations such as Iraq and Nigeria.