Oil Rises, Nears Record Above $50 as US Production Curbed
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Crude oil surpassed $50 a barrel and was close to a record in New York as US production in the Gulf of Mexico took longer than expected to recover, slowing the buildup of inventories to meet winter needs.
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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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Oil prices raced to new record highs  above $50 on Tuesday, despite a pledge by OPEC producer Saudi  Arabia to increase production, as rebel threats against  Nigerian oil facilities threatened to inflict further strain on  global supplies.
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Crude oil prices breached the psychological mark of US$50-per-barrel on Tuesday on worries that production shutdowns from hurricanes in the Gulf of Mexico and growing unrest in Nigeria would undermine global supply of black gold.
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Crude oil in New York traded near a record after exceeding $50 a barrel yesterday on threats to Nigeria&#39;s oil output and as US production remains lower than normal because of damage from Hurricane Ivan.
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Oil prices are pushing past the psychological barrier of $50 a barrel Tuesday. Prices are rising in part because of the slow recovery of production in the Gulf of Mexico following Hurricane Ivan.
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LONDON: World oil prices surged into new record territory above $50 a barrel Tuesday as traders took fright at a multitude of supply threats, including unrest in Nigeria and recent hurricanes.
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CRUDE oil prices pushed past the psychologically important $US50-per-barrel mark today and hit an all-time high as the market reacted to the slow recovery of US production in the Gulf of Mexico following Hurricane Ivan as well as unrest in key oil
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Crude oil prices in New York stayed higher Tuesday after passing 50 dollars per barrel as Nigerian rebels threatened oil output and Hurricane Ivan slashed production in the US Gulf of Mexico.
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WASHINGTON -- Oil prices shot up above $48 US per barrel yesterday after the US government reported that supplies shrank more than expected following production and shipping disruptions caused by hurricane Ivan.
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LONDON - Crude oil topped the psychological milestone of $50 per barrel Tuesday for the first time, and a Saudi Arabian oil official said the world's largest petroleum exporter would raise its production capacity by 15 percent in a bid to calm prices.    Analysts said instability in the Middle East, political unrest in Nigeria, Africa's top oil exporter, and damage to U.S...
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LONDON: Oil prices extended record-setting highs above US$51 for US crude yesterday, led by worries over the impact of Hurricane Ivan on US winter fuel stocks.
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Crude oil futures rose to within a quarter of $50 a barrel yesterday after a gas leak shut down a North Sea oil production platform, and as traders weighed concerns about heating oil supplies against the fact that temperatures have been mild in recent weeks.
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Oil's record-breaking rally lifted U.S.  crude beyond $52 a barrel on Wednesday, fueled by the impact of  Hurricane Ivan on U.S. winter inventories.
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Oil prices set a new record above $50  a barrel on Tuesday as a prolonged U.S. production outage  following Hurricane Ivan attracted fresh speculative buying.
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US light crude climbed to $49.36 a barrel, up 48 cents and just four cents below the record high set in late August at $49.40. In London, Brent crude oil futures in surged to a new peak of $45.
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Oil prices rose modestly today, halting a three-day losing streak on profit-taking from record highs near $50 a barrel.