Oil rises to $71 on supply worries
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Oil rose to $71 a barrel on Friday, near a nine-month high, as a strike in Nigeria threatened more of the country's output and Iran remained defiant over its nuclear program.
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Nagging concerns about tight heating oil supplies and increasing pressure within OPEC to rein in overproduction sent oil prices above US$43 a barrel on Thursday.
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LONDON - Oil prices held strong above $53 a barrel today as worries over a winter supply crunch countered expectations that high fuel costs would curb growth in petroleum demand next year.
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Oil prices firmed above $70 on   Wednesday as dealers weighed tensions over Iran's nuclear   program against robust crude inventories in the United States,   the world's largest energy consumer.
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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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US oil prices held above $46 a barrel on Tuesday on worries of a major supply disruption at a time when producers are pumping at full tilt to meet strong demand.
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Oil prices climbed back above $59 a barrel on Wednesday as a blast of cold weather boosts heating oil demand in the United States and OPEC supply cuts quicken the seasonal fall in crude stocks in industrialized countries.
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Oil rose on Tuesday, as the market grappled with worries over an economic slowdown in the United States and supply concerns from Venezuela and Nigeria.
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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 American demand.
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Oil prices climbed back above $59 a barrel on Wednesday as a blast of cold weather boosts heating oil demand in the United States and OPEC supply cuts quicken the seasonal fall in crude stocks in industrialised countries.
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Oil prices briefly climbed back over $50 on Tuesday, pushed higher by supply outages in the North Sea and fears about low stocks of winter heating fuels.
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Crude oil climbed back over $50 a barrel on Thursday, with worries over the security of Nigerian supplies supporting prices despite a surprise increase in U.S. crude inventories.
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LONDON  - Oil prices rose over worries about a possible supply shortage of US heating oil stocks during the northern hemisphere winter.
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Oil rose above $98 a barrel before falling back on Monday as reports of rising tensions in the Middle East outweighed concerns of demand outlook in top consumer United States from a feared economic recession.
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Oil futures prices climbed above $46 a barrel yesterday after the US government reported that commercial inventories of crude and heating oil fell last week and as traders considered the effect of global supply snags and forecasts calling for colder weather.
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Oil  breaches the $81 a barrel mark on worries about rising demand amid constrained supply.
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Oil rose towards $60 a barrel on Friday, drawing strength from a disruption to supply in Nigeria and as a fall in the U.S. dollar boosted other commodities.