Oil Prices Hit $53 a Barrel, Then Stage a Retreat
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Over the summer, rising oil prices meant higher gasoline costs for drivers in the United States. This winter, as crude oil touched $53 a barrel today, they will translate into higher heating bills for American households.
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Crude oil futures finished above 53 dollars a barrel Friday as traders were unsettled about winter fuel supplies in the United States and labor-government confrontation in Nigeria.
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Crude oil futures rallied back above $53 late yesterday on speculation and panic sparked by an oil line explosion in Mexico.
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Stocks sank on Thursday as crude oil  climbed to a record $53 a barrel and major drug makers' shares  slid on the possibility they will face more stringent scrutiny  from regulators.
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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's energy output.
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Oil prices stayed on the boil above  $53 a barrel on Monday, bolstered by persistent anxiety over  OPEC member Nigeria and the nearly month-long loss of a quarter  of U.S. Gulf of Mexico production, traders said.
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Investors sent stocks markedly lower yesterday as oil prices reached $53 a barrel during the trading session and new questions were raised about the safety of arthritis drugs, putting pressure on pharmaceutical shares.
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US crude prices fall back from Thursday's $53-a-barrel high overnight in Asia, but concerns over tight supplies persist.
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Crude oil prices rose back up over $53 a barrel Tuesday, signaling more bad news for an airline industry already facing record-high fuel prices.
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Oil retreated further from its US$53 per barrel threshold in early Asian trade Friday, but players in the market remained edgy about tight supplies heading into North America&#39;s winter heating season.
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Crude reaches $51.48 a barrel as the damage from Hurricane Ivan lingers in the Gulf of Mexico. LONDON  - Oil prices streaked to a record high above $51 a barrel Wednesday as speculators drove up prices
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Oil prices slid from record highs above  $50 a barrel Wednesday as the U.S. government reported a  surprise increase in crude stocks and rebels in Nigeria's  oil-rich delta region agreed to a preliminary cease-fire.
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Oil steadied near $66 a barrel on   Tuesday, with bargain-hunting traders ending a six-day retreat   after Iran sounded a softer note on its atomic programme and   OPEC agreed to keep production steady for now.
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Oil prices slid from record highs above $50 a barrel Wednesday as the U.S. government reported a surprise increase in crude stocks and rebels in Nigeria's oil-rich delta region agreed to a preliminary cease-fire with the government.
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Oil prices are holding near historic highs over $53 a barrel, with global supplies hounded by outages that were thwarting efforts to build US heating oil inventories ahead of the winter.
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Crude oil may rise from a record US$53 a barrel over concerns that imports will not make up for a drop in Gulf of Mexico output caused by Hurricane Ivan.
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Oil prices scaled new heights at $53 for  U.S. crude on Thursday on concerns over tight winter heating  fuel supplies and an unexpected strike at Nigerian oil  terminals.