Oil Prices Hit New Record on Fears of Iraqi Insurgency
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Crude futures for September delivery traded in New York rose today to $49.40 a barrel, up 70 cents.
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Global oil prices raced to fresh highs on Friday, carrying US crude close to $49.16 a barrel up 46 cents, driven by escalating violence in Iraq and unabated demand growth from China and India.
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Oil prices have raced to new record high levels after oil majors evacuated workers in Nigeria and police clashed with suspected Islamic militants in the Saudi Arabian capital, Riyadh.
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Oil prices rose on Friday, stemming five days of heavy losses as fresh sabotage attacks on Iraqi oil infrastructure renewed concern over the country's supplies, despite a peace deal in Najaf
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Oil prices vaulted to a record $100 a barrel on Wednesday as violence in Nigeria, tight energy stockpiles and a weaker dollar triggered a surge of speculative buying, dealers said.
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Oil prices extended gains to set a new all-time high on Monday, lifted by heightened tensions between Turkey and Kurdish rebels in northern Iraq, as well as a second wave of abductions in major oil producer Nigeria.
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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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World oil prices rose to a new record high above 55 US dollars a barrel Friday, stirring fears of 60-dollar-a-barrel New York crude, as concerns about the global supply of heating
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Oil prices broke into fresh record territory above $52 on Thursday on heightened concerns over tight winter heating fuel supplies.
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Global oil prices rallied to fresh highs on Friday with US crude approaching $49, driven by escalating violence in Iraq and unabated demand growth from China and India.
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Oil prices struck another record high on Thursday and remained supported above &#36;47 by a fall in U.S. crude stockpiles and threats by insurgents in Iraq against oil facilities.
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Oil prices have pushed above $49 a barrel, approaching record levels as worries about the stability of supplies from Iraq, Nigeria and Russia compound concerns over low fuel stocks ahead of winter.
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Oil prices rose on Friday, stemming five  days of heavy losses as fresh sabotage attacks on Iraqi oil  infrastructure renewed concern over the country's supplies,  despite a peace deal in Najaf
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Oil prices surged to a new high of $47 a  barrel on Wednesday after a new threat by rebel militia against  Iraqi oil facilities and as the United States said inflation  had stayed in check despite rising energy costs.
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London crude prices hit record highs on Monday as Nigeria emerged as the new focus of worries about supply security on world oil markets.
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Oil prices jumped to fresh historic highs on Monday, breaching 93 dollars for the first time on mounting concerns about tight energy supplies worldwide, analysts said.
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U.S. oil futures set a new record &#36;47.01 a barrel on Wednesday after a new threat against Iraq's oil sector by rebel Shi'ite militia.  U.S. crude traded up 26 cents to set a new high in the 21-year history of the New York Mercantile Exchange contract.