Oil prices surge nearly $2 on supply fears
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Oil prices surged nearly $2 a barrel yesterday following two bombings in the capital of Saudi Arabia and after the US government reported that winter fuel supplies shrank last week.
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Crude oil climbed to a two-week high on concern colder winter weather will drain supplies of North American and European heating fuels before inventories rebound.
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Crude oil prices surged past an unprecedented $55 per barrel Monday as uncertainty swirls over production, high demand and tight global supplies.
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Oil prices rose 2 percent Tuesday on the back of a rally in heating oil and natural gas futures that was supported by colder weather in the Western Hemisphere.
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World oil prices surged into new record territory above $US50 a barrel as traders took fright at a multitude of supply threats, including unrest in Nigeria and recent hurricanes.
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Oil prices surged above $55-a-barrel on Friday as concerns about the global supply of winter fuels persist ahead of the Northern Hemisphere winter.
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U.S. crude surged $2 to above $76 a  barrel on Monday as BP began shutting an Alaskan field that  pumps 8 percent of U.S. oil and anxiety over the Middle East,  supplier of almost a third of the world's oil, ran high.
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Oil prices surged to record highs above  $54 on Tuesday as supply hitches hindered efforts to build  winter heating fuel inventories.
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Oil prices surged $2 a barrel late yesterday, as energy traders rushed back into the market amid frigid temperatures in the United States and political tension overseas.
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Oil prices jumped to record highs  above $54 on Tuesday as supply hitches hindered efforts to  build winter heating fuel inventories. They later shed over a  $1 a barrel as traders took profits from the surge.
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Oil prices bounced higher Friday after two days of sharp declines. Prices rose as traders sought to protect themselves in the event of a supply disruption before Monday.
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Crude oil futures prices soared more than $2 a barrel to settle above $48 yesterday, as concerns about tight winter fuel supplies mixed with speculation that OPEC may scale back output later this year.
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Oil prices surged to yet new record highs Tuesday, driving U.S. crude above $54 as global supply outages thwart efforts to build winter heating fuel inventories.
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Oil prices climbed more than $2 higher on Friday on renewed concern over supplies of distillate fuels in all main consuming centers before the Northern Hemisphere winter.
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Crude oil prices spiked above $92 a barrel Friday on tensions in the Middle East and renewed concerns about supply.
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Oil prices jumped more than a dollar on  Thursday after the International Energy Agency warned that  faster-than-expected demand and disappointing world production  growth could put world supplies under strain.
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Oil prices surged nearly $2 a barrel Wednesday following two bombings in the capital of Saudi Arabia and after the US government reported that winter fuel supplies shrank last week.