Crude prices race toward $55 US; market braces for US oil ...
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Oil futures prices briefly topped $55 US a barrel Wednesday after a report showed American supplies of distillate fuel, which includes heating oil and diesel, shrank for a fifth straight week, heightening fears of a winter-fuels crunch.
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US oil prices have raced towards $46 a barrel after Russia&#39;s YUKOS suspended some oil exports to China and as traders remain concerned about storm-related supply disruptions into the United States.
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US crude oil futures have surged above $55 a barrel in electronic trading due to widespread worries about northern winter fuel supplies, traders said.
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Crude oil futures inched toward the 55 dollar milestone today, a day after US officials announced a decline in their countryâs inventory of heating oil, heating a market already on edge over tight supplies, high demand and unrest in key producers.
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Crude oil prices surged above the US$55-per-barrel mark on Monday on concerns that tight global supply would lead to a further drop in US inventories of heating oil ahead of the winter season.
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Oil prices held strong on Friday not far  below $55 as traders worried time is running out to top up low  heating oil inventories before winter.
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US oil prices neared $51 per barrel Tuesday, steered by speculative buyers wary of US production after Hurricane Ivan and conflicts in other oil-producing nations.
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Crude oil futures traded below $49 US a barrel Monday following a steep runup on Friday that was prompted by persistent concerns about winter fuel supplies.
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U.S. oil hit $55 a barrel on Friday as  traders worried over thin heating oil inventories ahead of  winter and Federal Reserve Chairman Alan Greenspan predicted  the soaring costs would not crimp economic growth as they did  in the 1970s.
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NEW YORK : New York&#39;s main crude oil contract shot to a record high 55.45 dollars a barrel amid deepening concern over US stocks of winter heating fuel.
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Crude oil prices surged past an unprecedented $55 a barrel before sliding back in overnight trading Monday, amid ongoing uncertainty over production, high demand and tight global supplies.
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Singapore - Crude oil prices rose for the third straight day Friday, inching close to $55 a barrel as heating oil futures hit another record high over supply concerns ahead of the Northern Hemisphere winter.
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Crude oil rose to a record $49.74 a barrel in New York amid concern rebel attacks in Nigeria will reduce production and US refiners will struggle to replenish supplies disrupted by Hurricane Ivan.
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The benchmark US crude was down 96 cents, or 2%, to $43.03 a barrel, as traders felt confident about supply-and-demand dynamics. Prices are now down about 13% from their intraday record high of almost $50 a barrel on Sept.
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Crude prices vaulted Monday, moving further away from the psychological US$40 per barrel mark on renewed cold winter fears as an Arctic front moved into the central United States.
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SAN FRANCISCO (CBS.MW) -- Crude-oil futures climbed back above $55 a barrel Tuesday to match last week&#39;s record close as traders turned their attention back to heating fuel ahead of this week&#39;s updates on US petroleum supplies.
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SINGAPORE - Crude oil futures hovered around the US$55-a-barrel mark Wednesday on fears of a heating oil shortage ahead of the northern winter, and oil cartel OPEC urged Washington to release more oil from its strategic reserve to calm the market.