Now Norway: Oil Finds Another Reason To Rise
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NEW YORK - Crude oil prices surged to a new high this morning in European trading, with a barrel fetching as much as $55.67. Two reasons were offered by wire-service reports--one relatively old, and one brand new.
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World oil prices are continuing to scale record heights, rising on concerns over disruptions to supply from strike-hit producers Nigeria and Norway.
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Oil prices hit new highs on both sides of the Atlantic this morning as a threat by Norwegian shipowners to halt production from the world&#39;s third biggest exporter fuelled fears of a winter supply crunch.
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World oil prices briefly scaled a new high above $55 a barrel on Monday before falling back as the Norwegian government moved to end a strike that had threatened the country&#39;s energy output.
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Oil prices rise again as traders weigh up supply issues and the geopolitical tensions building in the Middle East.
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Oil prices surged to a new high above  $47 a barrel Wednesday on evidence from major economies that  energy costs are not substantially slowing the economic growth  that fuels oil demand.
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That&#39;s according to the Lundberg Survey. It cites an increase in crude oil supplies combined with the recovery of US offshore oil production after Hurricane Ivan.
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Oil prices surged to a new high of $47 a barrel on Wednesday on evidence from major economies that energy costs are not substantially slowing the economic growth that fuels oil demand.
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Oil scaled a new high above &#36;55 a barrel Monday as a threat by Norwegian ship owners to halt production from the world's third biggest exporter stoked fears of a winter supply crunch.
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Oil prices surged to a new high above  $47 a barrel on Wednesday on evidence from major economies that  energy costs are not substantially slowing the economic growth  that fuels oil demand.
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When oil prices rise, public interest in alternative energy often does, too. But the logic is evidently escaping Wall Street.
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Crude oil prices surged to a new high Monday on supply concerns ahead of the coming winter, a possible petroleum-industry strike in Norway and data showing that China&#39;s big demand for oil is likely to increase.
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An ongoing conflict in Norway's oil sector will be jacked up, according to the trade union organizing the work stoppage.
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Oil prices briefly climbed back over $50 on Tuesday, pushed higher by supply outages in the North Sea and fears about low stocks of winter heating fuels.
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Global oil demand will rise significantly next year, the International Energy Agency says, pushing up prices.
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SINGAPORE/LONDON  - Oil rose above $61 on   Wednesday as dealers balanced signs that producer group OPEC   may take action to stem tumbling prices against forecasts for a   rise in U.S. winter fuel stocks.
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By Malcolm Moore, Economics Correspondent (Filed: 12/10/2004). Striking oil workers in Nigeria and Norway yesterday drove the price of oil past the $50 a barrel threshold for the first time in London.