Crude oil prices surge past $55 a barrel
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Crude oil prices surged past an unprecedented $55 a barrel before sliding back in overnight trading Monday, amid ongoing uncertainty over production, high demand and tight global supplies.
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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 broke through the record $54 (US) a barrel level briefly before falling sharply yesterday as no new shocks threatened to disrupt global supplies and traders took profits.
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Oil prices climbed again Friday, closing above $55 a barrel for the first time on conercns of domestic shortages in the upcoming winter.
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CRUDE oil prices surged past US$50 a barrel for the first time yesterday to a new record high, raising concerns that higher energy costs could slow the global economy next year.
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NEW YORK -- Crude futures surged above $52 a barrel Wednesday, reaching a new high in New York. Traders were reacting to a strike threat by Nigerian oil workers and to word that petroleum output in the Gulf
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Oil futures prices briefly topped $55 a barrel yesterday after a report showed US supplies of distillate fuel, which includes heating oil and diesel, shrank for a fifth straight week, heightening fears of a winter-fuels crunch.
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NEW YORK (CP) - The price of crude oil continued gurgling up to new highs Thursday, touching $53 US per barrel in morning trading on the New York Mercantile Exchange.
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NEW YORK - Crude oil prices surged to a new high this morning in European trading, with a barrel fetching as much as $55.67. Two reasons were offered by wire-service reports--one relatively old, and one brand new.
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Crude oil prices surged above the US$55-per-barrel mark on Monday on concerns that tight global supply would lead to a further drop in US inventories of heating oil ahead of the winter season.
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Oil futures prices surged to new heights above $55-abarrel on Friday as concerns about the global supply of heating oil persist ahead of winter in the Northern Hemisphere.
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Oil prices rallied to a record above  $55 a barrel Monday on concerns over a winter fuel supply  crunch, and as traders took comments from a top U.S. official  to mean high prices have yet to really dent U.S. demand.
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Crude for November delivery on the New York Mercantile Exchange hit $55.33 per barrel in pre-opening electronic trading Monday, up 40 cents from its Friday settlement price.
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Oil prices surged over $47 a barrel on  Wednesday on evidence that energy costs are not substantially  slowing the economic growth that fuels oil demand and fresh  threats by rebel militia against Iraqi oil facilities.
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Oil prices pushed through new highs above 55 US dollars a barrel Monday amid concerns over high demand and tight supplies ahead of the Northern Hemisphere winter.
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U.S. crude prices rose to another new  record on Thursday, rising 25 cents to $47.52 a barrel on  evidence that high prices are not hurting world oil demand  growth.
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WASHINGTON - Oil prices cruised above $55-a-barrel yesterday as concerns about the global supply of winter fuels persist ahead of the Northern Hemisphere winter.