Why are oil prices so high?
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LONDONâUS crude prices on the New York Mercantile Exchange hit fresh record highs on Tuesday, hitting $50.47 a barrel, up nearly 55 percent from the start of the year.
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Crude oil prices surged to a new high Monday on supply concerns ahead of the coming winter, a possible petroleum-industry strike in Norway and data showing that China&#39;s big demand for oil is likely to increase.
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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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The price of oil is on the rise as fears grow that Hurricane Ivan could disrupt oil supplies from the Gulf of Mexico.
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LONDON : Oil prices bolted higher on fears of disruption to production and import activity in the Gulf of Mexico because of Hurricane Ivan, traders said.
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Oil prices have surged to a new high of $47 a barrel after a new threat by rebel militia against Iraqi oil facilities, and as the United States says inflation has stayed in check despite rising energy costs.
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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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Another round of petrol price rises could be looming after crude oil prices hit the $US50 a barrel mark over the weekend. Oil prices are at their highest in more than 20 years due to supply concerns in Nigeria
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Crude oil prices climbed above $50 per barrel Tuesday, their highest level since futures began trading in 1983. The increase raises new questions about just how far prices will climb, with
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Oil prices struck a fresh record high above $47 a barrel on Thursday as fresh evidence of demand growth in China and India underlined how rising appetite for oil is straining the world&#39;s supply system.
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Oil prices reach a fresh high above $98 a barrel but fall back on higher-than-expected US crude supply figures.
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High oil prices, which have een a factor in virtually all US recessions over the past three decades, are surging again this year. And the higher crude oil prices climb, the more risk energy
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Average diesel prices rise to a record high above Â£1 a litre as the price of crude oil continues its ascent.
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-- Oil prices climbed to a new high, above $81 a barrel, on expectations that the U.S. Federal Reserve will cut a key interest rate later Tuesday, a measure that has the potential to bolster the economy and strengthen petroleum demand in the world's largest energy consumer.
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The higher inflation rate was the result of a surge in oil prices early this year. Oil prices have since leveled off, allowing the inflation rate to return to more modest levels.
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High oil prices, which have been a factor in virtually all US recessions over the past three decades, are surging again this year.
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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.