Oil Jumps Above $100
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Oil futures shot to a new record above $100 for the first time since Jan. 3 as investors bet that crude prices will keep climbing despite evidence of plentiful supplies and falling demand.
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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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TORONTO - Crude oil prices hit an all-time high Tuesday, pushing past the psychological barrier of $50 US per barrel during Asian trading.
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Oil prices dipped on Thursday after  leaping to a lifetime high of $100 the day before amid a  new-year rush of investor demand fuelled by expectations of  thinning U.S. stockpiles, the falling U.S. dollar and  geopolitical risks.
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Oil soared above $90 a barrel on Friday, lifted by a broader stock market rally as the United States confirmed an economic stimulus plan to ward off a recession in the world's top energy consumer.
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Oil rose to above $90 a barrel on Friday, lifted by a broader stock market rally as the United States confirmed an economic stimulus plan to ward off a recession in the world's top energy consumer.
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Oil's record-breaking rally lifted U.S.  crude beyond $52 a barrel on Wednesday, fueled by the impact of  Hurricane Ivan on U.S. winter inventories.
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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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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 surpassed $100 a barrel for the first time after a U.S. government report showed a steep slide in crude inventories.
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Oil vaulted to a record $100 a barrel on Wednesday as geopolitical turmoil, tight energy stockpiles in consumer countries and a weak dollar triggered a surge of speculative buying, dealers said.
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Oil extended gains above $71 on Friday,   buoyed by healthy U.S. economic growth that suggest recent   record-high prices may not hit robust demand for oil.
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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 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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Crude oil closed above $100 a barrel on Tuesday, vaulting through a longstanding psychological barrier amid concern about whether production can keep up with global demand.
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Oil prices have surged to two-week highs following news that supplies in the US are tightening. In New York on Thursday, the cost of a barrel of oil rose almost $2 to $44.
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Oil climbed back towards its new $90 peak on Friday, supported by tight fuel stocks ahead of winter and a softening dollar.