Oil Price Tops $55; Heating Supply Low
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Oil closed above $55 a barrel yesterday for the first time as traders worried about low stockpiles of heating oil and strong economic growth in China.
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LONDON - World oil prices eased slightly yesterday but remained close to record high points near 55 dollars a barrel as traders fretted about low inventories of US heating fuel heading into the northern winter.
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Crude oil prices surged past an unprecedented $55 per barrel Monday as uncertainty swirls over production, high demand and tight global supplies.
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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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Oil prices surged above $55-a-barrel on Friday as concerns about the global supply of winter fuels persist ahead of the Northern Hemisphere winter.
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Oil prices held strong on Friday not far below $55 as traders worried time is running out to top up low heating oil inventories before winter.
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Oil prices charged back toward $55 a  barrel on Wednesday as a fresh fall in U.S. heating oil stocks  stoked worries over winter supplies.
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Oil prices roared up to fresh record  highs on Thursday to end near $55 a barrel, as the U.S.  government reported another fall in heating fuel stocks ahead  of winter.
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The price of crude oil surged past $55 per barrel Monday on lingering supply fears in trading in Asia.
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A decline in the nation's inventory of heating oil catapulted crude futures prices toward $55 a barrel today.
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Oil prices jumped to record highs  above $54 on Tuesday as supply hitches hindered efforts to  build winter heating fuel inventories. They later shed over a  $1 a barrel as traders took profits from the surge.
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Oil stood above $60 on Tuesday after forecasts of a cold spell in the U.S. Northeast buoyed heating oil, and as a weaker dollar and a Saudi warning of possible new output curbs bolstered the market.
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Oil surged $1, toward $60, 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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The price of crude oil surged past $55 a barrel Monday as uncertainty swirled over production, high demand and tight global supplies.
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Oil prices rallied to a record high  above $55 a barrel on Friday on rising fears of a winter fuel  supply crunch and robust economic growth in China, the world's  number two user.
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Oil prices held firm above $55 a  barrel on Wednesday as traders braced for the start of the  northern winter with thin heating oil supplies.
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Oil prices held strong on Friday not far  below the $55-a-barrel mark as traders worried time is running  out to top up low heating oil inventories before winter.