Oil Holds Above $48 Despite SPR Loans
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Oil&#39;s advance wavered a little on Friday as the US government prepared to lend out some strategic crude stocks, but traders said the amounts were small and that supply worries remained.
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Oil held near $80 a barrel after earlier rising to its third record high in as many days on Friday amid concerns over low inventories of fuel in consuming nations.
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Oil held above $74 a barrel on Friday  on concerns about escalating violence in the Middle East after  Israel called up reservists in what could be a ground offensive  against Hizbollah guerrillas.
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Oil stayed well above $64 a barrel on  Thursday as the stand-off over Iran's nuclear program and  concerns over Nigerian supplies due to an oil workers' strike  supported the market.
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Oil prices held just below $48 a  barrel on Tuesday, as the market remained nervous that OPEC  producers may cut supplies before the end of the first quarter.
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Oil prices fell to just above &#36;48 on Friday after the U.S. government said it would lend refiners crude from the Strategic Petroleum Reserve (SPR), but traders deemed the loan too small to have a lasting impact.
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Oil prices held strong on Friday not far below the $55-a-barrel mark as traders worried time is running out to top up low heating oil inventories before winter.
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Oil edged up above $64 a barrel on  Wednesday as traders cautiously await the debate among members  of the U.N. nuclear watchdog over Iran's atomic work, and on  renewed concerns over disruptions to Nigerian supplies.
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Oil prices held firm just above $47 a  barrel on Friday, bolstered by a tightening outlook for market  fundamentals and sliding U.S. temperatures.
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Oil prices held firm on Friday after  leaping almost $2 a day earlier as the U.S. government said  crude stocks sank for the sixth straight week and distillate  fuels barely grew ahead of winter.
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Oil prices jumped more than a dollar,  climbing above $48 a barrel Wednesday after U.S. data showed  the disruption caused by Hurricane Ivan had eaten into fuel  stocks.
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Oil prices held above $46 a barrel on  Monday, supported by a blast of freezing weather in the United  States and renewed threats by Muslim militants to attack oil  facilities in the major exporting Middle East region.
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SINGAPORE -- Oil lingered above the $50 per barrel threshold in Asian trade today, breaching the mark for the second straight day ahead of key US crude stockpile data.
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Oil prices clung near the &#36;49 mark on Tuesday, pausing from a 12 percent slide from record highs ahead of key mid-week data on the health of winter fuel stockpiles in the leading consumer, the United States.
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SINGAPORE - Oil lingered above the $50 per barrel threshold in Asian trade Wednesday, breaching the mark for the second straight day ahead of key U.S crude stockpile data.    An expected cold Northern Hemisphere winter ahead also weighed in as a pledge by the world's largest producer Saudi Arabia to boost production capacity failed to lower prices...
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Crude futures climbed above 48 dollars a barrel Wednesday as US Energy Department reported that domestic supplies fell more than expected.
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Oil prices held steady near $47 a barrel  on Wednesday a day after setting yet another record when the  United States, the world's biggest oil consumer, said inflation  had stayed in check despite rising energy costs.