US prices surge on energy costs
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US consumer prices in October rose by their biggest amount in five months as households were faced with higher energy and fresh food costs.
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The price of oil jumped back above 90 dollars on Friday, helped by a recovery in global stock markets on the back of plans for a stimulus package to prevent the US economy falling into recession, traders said.
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The price of crude reaches a new high in the US, driven up by official data showing a decline in heating oil stocks.
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Oil prices surged more than $1 on  Wednesday as worries over tight heating fuel supplies in the  U.S. and Europe this winter countered a previous bout of  profit-taking by big-money funds.
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WASHINGTON -- Oil prices shot up above $48 US per barrel yesterday after the US government reported that supplies shrank more than expected following production and shipping disruptions caused by hurricane Ivan.
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Gasoline prices have jumped 33 cents a gallon across the United States over the past month -- the result of higher crude oil prices, greater demand and fears of shortages.
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Crude oil prices jumped beyond $50 a barrel yesterday, renewing concerns that sustained high energy costs will further weaken the US economy.
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Oil prices have surged to two-week highs following news that supplies in the US are tightening. In New York on Thursday, the cost of a barrel of oil rose almost $2 to $44.
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Oil prices hit a fresh high above $82 a barrel after US interest rates are cut by half a percentage point.
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WASHINGTONâCrude futures prices surged above $48 (US) per barrel yesterday as oil production and shipping disruptions caused by Hurricane Ivan prompted domestic supplies to shrink more than expected.
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The price of crude reaches a new high in the US,  driven up by official data showing a decline in heating oil stocks.
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Soaring energy costs and a surge in food prices contributed to a 1.7 percent rise in U.S. producer prices, the biggest gain in almost 15 years.
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Oil prices surged to a new high above  $47 a barrel Wednesday on evidence from major economies that  energy costs are not substantially slowing the economic growth  that fuels oil demand.
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U.S. producer prices posted their largest gain in more than three decades last month as energy and vehicles prices jumped, while home building rebounded from a six-year low.
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US prices saw their biggest rise in two years in November, boosted by energy prices, official figures show.
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U.S. producer prices jumped a  bigger-than-expected 2 percent in November, the largest gain in  more than three decades, on a spike in energy prices, a  government report showed on Tuesday.
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Oil prices jumped to fresh historic highs on Monday, breaching 93 dollars for the first time on mounting concerns about tight energy supplies worldwide, analysts said.