Oil Higher on Iraq After Heavy Fall
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Oil prices edged higher on Thursday from a heavy drop the day before as renewed violence and sabotage attacks in Iraq revived fears over supply disruptions.
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World oil prices skidded on Monday as Iraq pumped oil through its southern pipelines and Russia vowed to step up exports, but analysts said the days of high prices were not yet over.
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Oil rose on Thursday on falling U.S. crude stocks and mounting geopolitical tensions after the killing of Pakistani opposition leader Benazir Bhutto.
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NEW YORK -- Oil prices rebounded yesterday from early declines to settle above $71 for the first time in 10 months as traders focused on a refinery outage in Kansas and new accusations about Iran's role in Lebanon and Iraq.
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Crude oil futures rose, ending a 9 percent slide over the past five days, on concern that a cease-fire in Najaf, Iraq won&#39;t eliminate all possible supply disruptions over a three-day weekend when London markets will be closed.
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US oil prices edged higher Monday as Iraq&#39;s oil exports continued at more than 30 percent below normal after sabotage attacks on pipelines.
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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 struck a fresh record on  Thursday, spurred higher by renewed violence in Iraq and fresh  evidence that strong demand growth in China and India has not  been slowed yet by higher energy costs.
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London - Oil prices fell Wednesday as Iraq resumed pumping crude through a key northern pipeline, though supply concerns remained amid a fresh hurricane threat, analysts said.
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Oil prices rose on Friday, stemming five days of heavy losses as fresh sabotage attacks on Iraqi oil infrastructure despite a peace deal in Najaf renewed concern over the country&#39;s supplies.
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Oil prices rose more than $1 a barrel yesterday after an attack on an oil facility in Iraq and after Saudi Arabia's oil minister said OPEC might decide to cut output again when it meets next month.
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Oil prices rebounded on Tuesday as  fresh violence rocked Iraq ahead of elections later this month  and as Saudi Arabia, OPEC's top producer, said it is making  good on a pledge to cut output.
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The price of oil falls for the fourth day in a row, aided by an increase in Iraqi exports and data showing better than expected petrol stocks in the US.
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Oil prices pushed above $49 a barrel  on Monday, approaching record levels as worries about the  stability of supplies from Iraq, Nigeria and Russia compounded  concerns over low fuel stocks ahead of winter.
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Oil prices struck another record high on Thursday and remained supported above $47 by a fall in US crude stockpiles and threats by insurgents in Iraq against oil facilities.
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US oil prices rose on Monday as Iraq&#39;s oil exports continued at more than 30 percent below normal after sabotage attacks on pipelines.
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Oil prices hit fresh highs on Friday, lifting U.S. crude above &#36;49 a barrel, driven by escalating violence in Iraq and unabated fuel demand growth from China and India.