Oil Prices Rise Despite US Move To Draw On Strategic Reserve
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NEW YORK, Sept 23  - Oil prices edged closer to record territory Thursday as markets shrugged off news that the US government may draw from its strategic reserves to make up for shortages due to Hurricane Ivan.
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Crude oil rose for the first day in four on speculation that US inventory gains and forecasts for rising temperatures didn&#39;t justify yesterday&#39;s 6.5 percent decline in prices.
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Crude oil futures moved above $47 US a barrel on Tuesday, reflecting concern about tight distillate supplies despite expectations that a winter supply crisis will be averted.
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Oil futures prices rose slightly Monday despite assurances from Middle East countries that they were committed to keeping the market well supplied as a strike began in Africa&#39;s largest exporter of crude.
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Oil prices climbed above $62 a barrel yesterday as colder weather drifted eastward across the United States and after government data showed shrinking supplies of crude, gasoline, and heating oil.
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U.S. oil prices rose on Wednesday,  pausing from a losing streak well above $40 a barrel, although  dealers said data on fuel supplies in the United States due  later in the day may trigger a new slide in the market.
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Oil prices climbed toward &#36;47 a barrel on Thursday after bullish fuel stocks data in the United States and a series of production hitches across the globe rekindled worries of a major supply disruption.
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The US Federal Reserve last night raised interest rates for the third time this year in spite of a renewed surge in oil prices. The widely expected move took the Fed funds&#39; rate up a quarter-point to 1.75%, following similar moves in August and June.
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Crude oil was little changed after rallying more than 2 percent yesterday when US President George W. Bush&#39;s re-election signaled the government probably will continue its policy of buying oil for a national reserve.
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Oil prices crept higher on Wednesday   after suddenly resuming their six-week rout a day ago,   undermined by expectations of another rise in already bulging   U.S. winter fuel stocks and more talks over Iran.
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Oil prices climbed more than $2 higher on Friday on renewed concern over supplies of distillate fuels in all main consuming centers before the Northern Hemisphere winter.
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Crude oil futures rose above $42 a barrel Wednesday after government data showed an increase in US fuel supplies. Traders were also focused on an upcoming OPEC meeting at which the group could
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Oil prices rose Monday morning, climbing toward $46 per barrel, after reports that embattled Russian oil giant Yukos suspended some oil exports to China and as traders expect further declines in the US petroleum supply due to production, refining and
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New York: Oil prices pushed higher stoked by nagging concerns that US heating oil stocks could face a supply crunch in coming weeks, as traders sought to cover positions before the Thanksgiving holiday.
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Oil prices rose on Friday as worries a  cold spell in the United States could erode already depleted  winter fuel inventories spurred the market higher.
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Oil prices climbed nearly a dollar on  Monday, moving above $46 a barrel on escalating sabotage at  Iraqi oil facilities and the risk that a U.S. cold spell would  strain thin winter fuel supplies.
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World oil prices rose on Thursday as  concerns over a supply shortage after Hurricane Ivan persisted  despite news the U.S. will loan some oil from its reserves to  refineries to make up for lost production.