Crude oil rally runs out of gas
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NEW YORKâCrude oil futures finished a tad higher yesterday, as an early rally succumbed to a late wave of profit taking. The early rally was triggered by news of a pipeline explosion in Iraq and fresh concerns
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Crude for October delivery closed at $46.35 a barrel on the New York Mercantile Exchange, up 76 cents for the session. It hasn&#39;t closed above $46 since Aug. 20.
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CRUDE oil futures fell yesterday after the American government reported a slight increase in the US inventory of crude. The supply of distillate fuel, which includes heating oil, also increased, following
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Crude oil prices neared 49 dollars per barrel Friday as Gulf of Mexico crude production rebounded at a slower pace than analysts had expected.
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The commercial stocks of crude oil in the United States surged by 4.0 million barrels to 283.4 million barrels in the week ending on October 22, near the lower end of average
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CAMARILLO, Calif. Nov 7, 2004 - An increase in the worldwide supply of crude oil contributed to a dip in US prices at the gas pump over the last two weeks, an industry analyst said Sunday.
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The price of crude oil futures reached an all-time high Monday, closing just under $50 per barrel, due to hurricane-related production shortages in the Gulf of Mexico and political turmoil in Africa and the Middle East.
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Crude oil in New York rose for a fifth session as a gas leak closed two North Sea oil platforms, causing the shutdown of 205,000 barrels a day of production.
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US crude leapt about $1.50-a-barrel yesterday as petroleum giants evacuated thousands of workers from the Gulf of Mexico ahead of Hurricane Ivan.
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The biggest one-day drop in the price of crude oil in more than three years ignited a rally Wednesday that sent the Dow Jones industrial average up by more than 160 points.
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NEW YORK -- Crude oil futures rallied late yesterday to a new high of $54.93 US, a day after a decline in the US inventory of heating oil roiled a market already on edge over tight supplies, high demand and unrest among key producers.
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Crude oil futures prices fell around the globe on Monday following a steep run-up on Friday that was prompted by persistent concerns about winter fuel supplies.
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Crude oil surpassed $50 a barrel and was close to a record in New York after hurricanes in the Gulf of Mexico curbed US production for more than three weeks, slowing the accumulation of supplies to meet winter needs.
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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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Oil prices abruptly ended a losing streak on Wednesday, jumping nearly $1 after a US government report showed heating oil stockpiles down 16 percent from last year ahead of winter.
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Oil's record-breaking rally took U.S.  crude over $52 a barrel on Wednesday fueled by the impact of  Hurricane Ivan on U.S. winter inventories.
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Crude oil futures rallied late Friday to a new record high of $54.90, a day after a decline in the U.S. inventory of heating oil roiled a market already on edge over tight supplies, high demand and unrest among key producers.