Oil Jumps to Two-Week High on Concern About Heating-Fuel Supply
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Crude oil climbed to a two-week high on concern colder winter weather will drain supplies of North American and European heating fuels before inventories rebound.
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U.S. oil prices flirted with $50 on  Tuesday, jumping to their highest level in eight weeks after a  fire at a big Louisiana refinery slowed the plant's fuel  production.
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Oil prices bounced higher Friday after two days of sharp declines. Prices rose as traders sought to protect themselves in the event of a supply disruption before Monday.
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Oil prices broke into fresh record territory above $52 on Thursday on heightened concerns over tight winter heating fuel supplies.
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Oil prices edged higher for the second day on Wednesday ahead of US government data expected to show a slight decline in winter heating fuel stocks.
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Oil prices bounced higher Friday following two days of sharp declines, but traders said they expect prices to move lower again by early next week in anticipation of the Energy Department's next petroleum supply report.
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Oil prices surge to new highs in Asia and London amid concerns over winter fuel shortages.
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NEW YORK - Crude oil futures gained more than $2 US a barrel Friday as slumping inventories and frigid forecasts pushed oil to its highest level of the month.
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Oil prices rose nearly $2 on Thursday  after a big fall in U.S. natural gas inventories triggered  renewed concerns about winter fuel stocks in the world's  biggest energy-consuming nation.
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NEW YORK - Oil prices jumped to record highs above US$54 on Tuesday as supply hitches hindered efforts to build northern hemisphere winter heating fuel inventories.
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Oil surged to a record high above $81 a barrel on Tuesday, drawing strength from concerns of a winter supply squeeze in the world's top consumer where an anticipated interest rate cut is calming recession fears.
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Oil prices rose for the second day in a row on Thursday with an Arctic blast forecast to hit the United States next week, ramping up demand for heating fuels.
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The U.S. nationwide price for  gasoline rose closer to $2 a gallon over the last week and  diesel fuel hit a new record high for the second week in a row,  the government said on Monday.
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NEW YORK - Oil prices jumped nearly two dollars on Thursday after the US 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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Crude oil rose for a second day on concern about the loss of production and possible damage from Hurricane Ivan, which passed just east of most Gulf of Mexico production platforms.
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WASHINGTON -- Oil futures prices surged to new heights above $55 US a barrel yesterday as concerns about the global supply of heating oil persist ahead of winter.
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Crude-oil futures surged almost $2 a barrel, the biggest increase in two months, after the Energy Department reported that US oil supplies declined more than expected.