Oil prices set to target $60
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Singapore - Crude oil prices surged past an unprecedented $55 per barrel Monday, driven by uncertainty over production, high demand and tight global supplies ahead of the Northern Hemisphere winter.
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World oil prices rose to a new record high above 55 US dollars a barrel Friday, stirring fears of 60-dollar-a-barrel New York crude, as concerns about the global supply of heating
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World oil prices vaulted to record highs Friday, stirring fears of $US60 a barrel for New York crude, as traders sweated over tight US energy stocks and rampant, China-driven demand.
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Oil bounced back above $59 on Tuesday on expectations the coldest weather of the U.S. winter would cut heating oil stocks in the world's top energy consumer.
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Oil rose towards $60 a barrel on Friday  in trade muted by the long U.S. Thanksgiving holiday weekend,  after tumbling on a rise in stockpiles in the world's top oil  consumer.
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Oil prices climbed back above $59 a barrel on Wednesday ahead of an expected sharp fall in weekly U.S. distillate stocks as a blast of cold weather boosted heating fuel demand in the world's top consumer.
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As oil prices keep setting new record highs, there are growing concerns that Asia's energy-hungry economies can no longer continue absorbing the impact with crude creeping toward 60 dollars a barrel.
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Oil markets were little changed Wednesday but prices appeared positioned for an increase as traders traced the path of the strongest storm to hit the Arabian Peninsula in 60 years.
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Renewed tensions between the US and Iran as well as a US cold snap push oil prices above $60 a barrel.
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The London stock market will next week keep a close watch on oil prices, which are showing no signs of cooling after soaring to fresh record high points approaching 50 dollars, analysts said.
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World oil prices marched towards 55 dollars today on worries about low stocks of US heating fuel and tight crude supplies amid strong demand in key markets ahead of the northern hemisphere winter.
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SINGAPORE - Crude oil futures hovered around the US$55-a-barrel mark Wednesday on fears of a heating oil shortage ahead of the northern winter, and oil cartel OPEC urged Washington to release more oil from its strategic reserve to calm the market.
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Oil edged up above $64 a barrel on   Wednesday as traders cautiously await the debate among members   of the U.N. nuclear watchdog over Iran's atomic work, and on   renewed concerns over disruptions to Nigerian supplies.
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Oil prices soared above $60 a barrel on Wednesday as a rash of snags affecting U.S. oil refineries, pipelines, and an oil field sparked worries of a supply crunch in the world's biggest energy consumer.
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U.S. stock index futures pointed to a   higher market open on Monday as crude oil's break below $60 a   barrel lifted optimism about spending and profits, but   investors will look to data on existing home sales to gauge the   extent of the U.S. economic slowdown.
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Oil prices fall below $60 a barrel, continuing their sharp decline of recent weeks, as Iranian tensions reduce.
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Oil fell further toward $60 a barrel on Tuesday, extending Monday's steep drop on forecasts of a further increase in fuel inventories in top oil consumer the United States.