Crude Oil Trades Near Record on Concern Chinese Demand is Straining Supply
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Crude oil in New York traded near Friday s record close amid concern growing Chinese demand may strain supplies at a time when spare global production capacity is limited.
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Crude oil surpassed $50 a barrel and was close to a record in New York as US production in the Gulf of Mexico took longer than expected to recover, slowing the buildup of inventories to meet winter needs.
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US crude oil futures climbed towards $46 a barrel Monday after Russia&#39;s Yukos suspended some oil exports to China and traders remained concerned about storm-related supply disruptions into the United States.
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Oil prices deepened this week's 8 percent rout on Friday, edging nearer &#36;50 a barrel as China's surprise interest rate rise stirred concerns over demand growth from the world's second largest energy user.
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NEW YORK, December 2  - Crude oil futures steadied at under $46 per barrel in early morning trade today, after declining by more than $3 per barrel yesterday on reports of higher-than-expected increases in the US supplies of crude oil
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The price of crude oil rose to a record high yesterday even as the Bush administration agreed to tap the nation&#39;s emergency oil stockpile because of supply problems caused by Hurricane Ivan.
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Oil prices pushed above &#36;49 a barrel on Monday, approaching record levels as worries about the stability of supplies from Iraq, Nigeria and Russia compounded concerns over low fuel stocks ahead of winter.
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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 continued to climb Friday, reaching new record high as decline in the US inventory of heating oil and tight supplies still overshadowed theenergy markets.
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Oil rebounded from sharp recent losses  on Friday as China reported a fresh record in crude imports and  a U.S. cold snap was expected to keep up demand for heating  fuels.
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Crude oil rose to a record for a sixth day, passing $54 a barrel in New York, as concern about US supplies grew after the International Energy Agency said demand this year is rising faster than expected.
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NYMEX crude kept close to record highs near &#36;54 early on Tuesday as global oil supplies remained hounded by disruptions, magnifying concerns over U.S. heating oil stocks ahead of the winter, traders said.
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Crude oil futures prices briefly hit a record high Tuesday as worries persisted over supplies and unrest among key producers. Crude oil for November delivery shot up as high as $50.
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Oil prices hover just below Monday's record peaks in Asian trade, amid continued concerns over global supply shortages.
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Crude oil prices reached a record high of $47.04 (US) a barrel in pre-market trading Wednesday in New York on lingering concerns about supply from Iraq and Russia.
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Crude oil futures fell in New York, extending the biggest two-day decline in 19 months, amid concern China&#39;s first interest-rate increase in nine years may slow growth in fuel demand in the world&#39;s second-largest oil consumer.
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Crude oil prices hit a record yesterday, briefly topping $80 a barrel as the Energy Department reported an unexpectedly sharp drop in U.S. inventories, a hurricane warning closed the Houston Ship Channel and oil traders discounted the significance of OPEC's announced plan to slightly raise its ou...