Oil Inches Towards the 55 Dollar Milestone
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Crude oil futures inched toward the 55 dollar milestone today, a day after US officials announced a decline in their countryâs inventory of heating oil, heating a market already on edge over tight supplies, high demand and unrest in key producers.
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A decline in the nation's inventory of heating oil catapulted crude futures prices toward $55 a barrel today.
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The price of oil finally broke through the $50-a-barrel mark today, a milestone never seen before.
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Crude oil futures rose to a record $55.39 a barrel in New York after the release of a report showing that the Chinese economy grew more than expected last quarter.
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Oil futures prices briefly topped $55 US a barrel Wednesday after a report showed American supplies of distillate fuel, which includes heating oil and diesel, shrank for a fifth straight week, heightening fears of a winter-fuels crunch.
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NEW YORK : New York&#39;s main crude oil contract shot to a record high 55.45 dollars a barrel amid deepening concern over US stocks of winter heating fuel.
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Oil prices rallied to a record above  $55 a barrel Monday on concerns over a winter fuel supply  crunch, and as traders took comments from a top U.S. official  to mean high prices have yet to really dent American demand.
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Oil prices held steady near $47 a  barrel on Wednesday, a day after setting another record when  the U.S. government said inflation has stayed in check despite  rising energy costs. Weekly data expected to show a drop in  U.S. crude inventories also helped support prices.
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Oil prices climbed Friday, closing above $55 a barrel for the first time, on worries that supplies will be stretched thin this winter while demand from China remains solid.
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PARIS The price of oil, which has been inexorably rising for the past two years, finally broke through the $50-a-barrel mark Tuesday, reaching a new milestone as some analysts warned that there was nothing to stop prices from rising even further.
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The price of crude oil surged past $55 a barrel Monday as uncertainty swirled over production, high demand and tight global supplies.
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LONDON : World oil prices rose to fresh high points above 55 dollars a barrel on markets worried about low supplies of crude amid strong demand with winter fast approaching in the northern hemisphere.
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Singapore - Crude oil prices rose for the third straight day Friday, inching close to $55 a barrel as heating oil futures hit another record high over supply concerns ahead of the Northern Hemisphere winter.
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Crude oil futures stayed above US$55 a barrel Wednesday, over fears of a heating oil shortage before an expected cold Northern Hemisphere winter.
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Oil prices held steady near $47 a barrel  on Wednesday a day after setting yet another record when the  United States, the world's biggest oil consumer, said inflation  had stayed in check despite rising energy costs.
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Fed chief Alan Greenspan says energy prices are not yet a major economic threat, as oil touches $55 a barrel in New York.
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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.