Update 8: Oil Market Cautious on Tight Supplies
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Crude oil futures markets reflected some caution Tuesday about tight distillate supplies, despite expectations that a winter supply crisis will be averted.
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THERE is eerie nervousness in oil and financial markets amid fears over oil supply as prices are edging towards $50 (around Rs 2,298) a barrel mark.
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Oil prices held firm on Tuesday on  concerns about another cold snap in the United States and  possible supply disruption in the Middle East and Russia.
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WASHINGTON -- Oil prices inched closer to $50 a barrel yesterday even as the Bush administration offered to tap the nation's emergency stockpile of crude on behalf of refiners whose supply was disrupted by Hurricane Ivan.
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Oil prices remain around the $82-a-barrel mark, over fears a storm may develop in the Gulf of Mexico.
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Oil prices slipped on Monday but held above &#36;49 a barrel as easing concerns about a winter supply crunch pulled the market further away from record highs set two weeks ago.
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Oil&#39;s advance wavered a little on Friday as the US government prepared to lend out some strategic crude stocks, but traders said the amounts were small and that supply worries remained.
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Oil prices stayed close to &#36;49 a barrel on Thursday, supported by a forecast for an early cold snap in the United States that could put a strain on a thin supply cushion of winter heating fuel.
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Oil prices held firm on Friday after leaping almost $2 a day earlier on news US crude stocks sank to a five-month low last week and distillate fuels barely grew ahead of winter.
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: Oil prices searched for direction today, supported by worries of a cold snap in the Western Hemisphere but weakened by selling on the bet that OPEC&#39;s decision to cut production would not end short-term oversupply.
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NEW YORK, Sept 23  - Oil prices edged closer to record territory Thursday as markets shrugged off news that the US government may draw from its strategic reserves to make up for shortages due to Hurricane Ivan.
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Oil eased on Friday, but stayed within sight of its $90 peak, supported by tight fuel stocks ahead of winter and a softening U.S. dollar.
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Oil prices held firm around $55 a barrel  on Wednesday as traders braced for the start of the northern  winter with thin heating oil supplies.
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Singapore - Oil futures clung to a narrow range yesterday as the market braced for an expected Arctic blast in the US that could drive up heating oil prices, while traders fretted over potential supply disruptions in Saudi Arabia, Russia and Iraq.
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Investors appear to be in a cautious mood ahead of key crude oil inventory data due this morning. The Dow Jones Industrial Average is up 4 points in today&#39;s early going.
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World oil prices steadied today, as early supply jitters eased after a pipeline explosion in Iraq, the possibility of a production shutdown by Russian oil giant Yukos and a hurricane heading for Florida.
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Oil prices eased on Monday as speculative funds continued to take profits but a tight global supply picture stopped the selling from gaining much momentum.