Crude settles above $50 for first time
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The price of oil settled above $50 a barrel for the first time Friday amid concerns over tight supplies globally and hurricane-related production problems in the Gulf of Mexico.
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The price of crude oil futures reached an all-time high Monday, closing just under $50 per barrel, due to hurricane-related production shortages in the Gulf of Mexico and political turmoil in Africa and the Middle East.
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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 prices ended above the  $50-a-barrel mark on Friday amid concern over possible conflict  in Nigeria's oil-producing delta region, where a two-day truce  between rebel militia and government forces is holding.
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NEW YORK: Oil prices pierced the $50-a-barrel mark again last night amid concern over possible conflict in Nigeria&#39;s oil-producing delta region, where a two-day truce between rebel militia and government forces is holding.
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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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In Asian trade, US light crude hit $50.28 a barrel, the highest since the record $50.47 one week ago. London&#39;s Brent crude opened higher Tuesday, up 46 cents at $46.
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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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Oil prices surge to fresh record highs in London, with Brent crude reaching the $50-a-barrel mark for the first time.
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Crude oil prices briefly hit an all-time high of $50.69 on Tuesday as worries persisted over supply and unrest in key producers.
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Nymex crude oil surged to a record of 50 dollars per barrel Monday as traders concerned that the petroleum production in the Gulf of Mexico would not return tonormal soon.
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Crude for November delivery on the New York Mercantile Exchange hit $55.33 per barrel in pre-opening electronic trading Monday, up 40 cents from its Friday settlement price.
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NEW YORK - The price of oil settled above $50 a barrel for the first time yesterday amid worries about tight supplies and production problems because of hurricanes in the Gulf of Mexico.
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World oil prices hit new records above $50 a barrel Tuesday amid fears that problems in oil-producing nations mean that oil supplies may not meet strong demand.
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The price for North Sea oil of Brent quality was Monday sold for US$ 50 a barrel for the first time ever, and on Tuesday it peaked at US$ 51.
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Crude oil prices pushed past the psychologically important US$50-per-barrel mark Tuesday to an all-time high of US$50.01 as the market reacted to the slow recovery of US oil production in the Gulf of Mexico following Hurricane Ivan.
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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.