Oil sees new high in Asia trade
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Oil prices have surged past a record $55 per a barrel in Asian trade, amid concerns over winter fuel supplies. The price of crude for November delivery on the New York Mercantile Exchange hit $55.
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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 extended gains to set a new all-time high on Monday, lifted by heightened tensions between Turkey and Kurdish rebels in northern Iraq, as well as a second wave of abductions in major oil producer Nigeria.
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Oil futures prices advanced to a new high Monday as a strike began in Africa&#39;s largest exporter of crude, exacerbating global supply concerns at a time of strong demand and reduced
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Rising oil prices increased the U.S. trade gap in July to a record high, the government reported Tuesday, as the deficit between imports and exports soared above forecasts.
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Oil prices hover just below Monday's record peaks in Asian trade, amid continued concerns over global supply shortages.
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Oil lingered above the $50 per barrel threshold in Asian trade Wednesday, breaching the mark for the second straight day ahead of key US crude stockpile data.
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Oil prices surged to a new high above $47 a barrel on Wednesday on evidence that energy costs are not substantially slowing the economic growth that fuels oil demand.
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The U.S. trade deficit widened more than expected in August to its second-highest level on record, fueled by the highest oil import prices in 23 years and record imports from China, the U.S. government said on Thursday.
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Oil prices surged to a new high of $47 a barrel on Wednesday on evidence from major economies that energy costs are not substantially slowing the economic growth that fuels oil demand.
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Crude oil prices climbed above the key $50 mark in Asian trade Tuesday, creeping close to an all-time high as worries continued over supply and unrest in key oil producing areas.
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Developing Asia is set to outperform this year with higher-than-expected growth of 7.0 percent despite high oil prices but it will slow in 2005 in tandem with the developed world, the Asian Development Bank (ADB) said.
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Oil prices surged to a new high above  $47 a barrel on Wednesday on evidence that energy costs are not  substantially slowing the economic growth that fuels oil  demand.
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Oil prices surge past a record $55 per a barrel in Asian trade, amid concerns over winter fuel supplies.
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The US trade deficit widened to a new high of $55.5 billion in October, boosted by high oil prices and record imports from China as retailers geared up for Christmas.
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Asian stocks hit a fresh all-time high on Monday, thanks to gains in energy shares such as INPEX Holdings as oil prices pushed deeper into record territory above $92 a barrel in early Asian session.
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As expected, stronger overseas growth and a weaker dollar boosted exports to a record and higher oil prices helped lift imports to an all-time high, a government report showed.