Oil breaks $100 as U.S. stockpiles drop
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Oil prices broke above $100 a barrel for the first time on Thursday after a U.S. government report showed a steep slide in crude inventories in the world's biggest energy consumer.
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Business & money: US crude oil prices hit the psychological barrier of $100 a barrel for the first time today
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Oil hit a record high above $79 a barrel on Wednesday, propelled by an unexpectedly large drop in U.S. crude oil stocks that coincided with only a small output increase from OPEC ahead of peak winter demand.
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Oil prices jumped nearly two dollars  on Thursday after the U.S. government said crude stocks fell to  a fresh five-month low last week and distillate fuel  inventories barely grew ahead of winter.
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Business & money: Opec under fire as US crude nears $100 a barrel.
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NEW YORK - Crude oil prices took a big jump Wednesday after a US Energy Department report showed a drop in crude oil inventories amid a cold snap in the big oil-consuming states of the US northeast.
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Oil prices fell sharply on Wednesday  after a U.S. government report showed a big increase in  national petroleum stockpiles, easing worries of a crunch at  the height of the winter heating season.
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LONDON Crude oil fell from a record high in London on Thursday on speculation the United States may use oil from its emergency stockpiles to keep refineries running after Hurricane Ivan curtailed supplies from the Gulf of Mexico.
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Oil fell more than $1 a barrel on Wednesday after a U.S. government report showed larger-than-expected increases in crude and gasoline stockpiles in the world's top consumer.
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Stocks fell on the first trading day of the year on Wednesday after U.S. manufacturing data showed signs of contraction and oil hit $100 a barrel, raising the possibility of a recession in 2008.
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Oil rallied to a fresh record high above $92 a barrel on Friday as the dollar tumbled to a record low, Washington imposed new sanctions on Iran and gunmen shut more oil production in Nigeria.
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Oil prices jumped a dollar on Thursday  after the U.S. government said crude stocks fell to a fresh  five-month low last week and distillate fuel inventories barely  grew ahead of winter.
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Oil prices pulled further back from the brink of $100 a barrel on Thursday after fresh signs of weak U.S. oil demand and a Wall Street slump fuelled profit-taking from a near 40 percent rally in under three months.
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Crude oil closed above $100 a barrel on Tuesday, vaulting through a longstanding psychological barrier amid concern about whether production can keep up with global demand.
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Oil prices surged on Wednesday as U.S.  government reported a fall in heating oil stocks and cold  weather gripped the U.S. Northeast, the world's biggest heating  fuel market.
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Oil prices fell Thursday, failing to top the $100-a-barrel mark, despite a larger-than-expected fall in crude inventories.
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Oil prices tumbled on Wednesday as an unexpected rise in US stockpiles eased supply concerns, and coffee fell for a second straight day as speculators cashed out from the market&#39;s bull run to four-year highs.