Crude Oil May Rise From Record on Supply Threats
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Aug. 20 (Bloomberg) -- Crude oil futures in New York will probably rise next week, after setting records every day except one since July, on concern that shipments will be curtailed as demand grows, a Bloomberg survey of traders and analysts showed.
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Crude oil futures prices rose Wednesday because of lingering concerns about heating oil supplies and fears that OPEC could rein in output when it meets later this week.
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Crude oil futures rose above $50 a barrel in New York on concern rebel attacks in Nigeria may reduce production while US inventories are near a 29-year low because of disruptions caused by Hurricane Ivan.
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World crude prices have risen amid fears that supplies from the oil-rich Gulf of Mexico could be disrupted by Hurricane Ivan. Energy companies have evacuated thousands of offshore workers and shut down some production in the region.
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U.S. oil futures set a new record &#36;47.01 a barrel on Wednesday after a new threat against Iraq's oil sector by rebel Shi'ite militia.  U.S. crude traded up 26 cents to set a new high in the 21-year history of the New York Mercantile Exchange contract.
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Crude oil prices have resumed their upward trend amid continuing worries about supplies for the northern hemisphere&#39;s approaching winter.
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Crude oil prices rose for the second day Thursday as traders worries that the Organization of Petroleum Exporting Countries (OPEC) might trim excess oil output.
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Crude oil rose to a record for a sixth day, passing $54 a barrel in New York, as concern about US supplies grew after the International Energy Agency said demand this year is rising faster than expected.
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Crude oil rose to a record $49.74 a barrel in New York amid concern rebel attacks in Nigeria will reduce production and US refiners will struggle to replenish supplies disrupted by Hurricane Ivan.
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The price of crude oil reaches new record levels amid concerns about possible unrest in Venezuela and the threat of sabotage in Iraq.
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Crude oil prices surged to a record, exceeding $51 a barrel in New York for the first time, amid concern that hurricane damage to production platforms in the Gulf of Mexico will keep supplies from rising enough to meet winter needs.
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Crude oil futures rose to records in London and New York on concern offshore oil output from Norway, the world&#39;s third-biggest exporter, may be halted by a labor dispute.
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Crude oil futures rose above 55 dollars a barrel Friday as concerns about the global supply of heating oil persisted ahead of winter in the Northern Hemisphere.
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Crude oil futures traded near a record after rising above $51 a barrel yesterday on concern hurricane damage to production platforms in the Gulf of Mexico will keep supplies from rising enough to meet winter demand.
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Crude oil futures moved upward past US$47 Tuesday, reflecting concern about tight distillate supplies despite expectations that a winter supply crisis will be averted.
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Crude oil prices surged to a record in New York and London on concern that hurricane damage to production platforms in the Gulf of Mexico will keep supplies from rising enough to meet winter needs.
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Oil futures shot to a new record above $100 for the first time since Jan. 3 as investors bet that crude prices will keep climbing despite evidence of plentiful supplies and falling demand.