Fear has put $15 on oil price, says Naimi
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Oil prices are inflated by as much as $15 a barrel by fears of shortages and geopolitical issues in the Middle East, Ali Naimi, the Saudi oil minister, said on Monday.
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LONDON  - Oil prices firmed, rising briefly above 50 dollars in New York, supported by supply disruptions to operations in the North Sea, making markets nervous heading into the northern winter.
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Oil jumped $1 past $75 a barrel on Tuesday as a top U.S. hurricane forecaster called for a busy end to the Atlantic storm season, raising concerns over potential oil and gas disruptions.
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U.S. crude price could top $90 a  barrel this autumn and hit $95 by the end of the year if OPEC  keeps oil production capped at current levels, Goldman Sachs  said in a report issued on Monday.
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Saudi Arabia's oil minister Ali Naimi said his country is working toward lifting its sustainable oil production capacity to 12.5 million barrels a day, and added that the "fear factor" over supply has increased the oil price by &#36;10-&#36;15 a barrel.
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Oil prices rose $2 on Tuesday on worries over tight inventories in the United States, the world's biggest energy consumer, and a threat of violence in Nigeria's oil region.
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Oil scaled a new high above $55 a barrel Monday as a threat by Norwegian ship owners to halt production from the world&#39;s third biggest exporter stoked fears of a winter supply crunch.
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A high-ranking minister in the Gulf points a finger at commodity speculators and the "fear factor" for the recent jump in prices
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LONDON: World oil prices rose yesterday on concerns over the possibility of further unrest in major producer Iraq despite a ceasefire in Najaf, where fighting has raged for weeks, traders said.
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Oil prices hugged the $51 mark in early Asian trade Wednesday, ahead of a key report in Washington on the level of commercially available oil in the United States - the world&#39;s largest consumer of crude.
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Oil prices rose $2 on Friday on renewed  concern over tight supplies of distillate fuels in all main  consuming centers ahead of the northern hemisphere winter.
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London - Oil prices roared to new record highs yesterday, within a whisker of $51 a barrel, on worries about supplies from the Gulf of Mexico, where almost 30 percent of production remains shut.
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Saudi Arabian Oil Minister Ali El-Naimi has said that the $10-15 &quot;fear premium&quot; that has been present in oil prices will disappear as the problems of &quot;supply&quot; and &quot;geographic tension&quot; diminish.
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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 jumped above $75 a barrel on Tuesday after a top U.S. hurricane forecaster called for a busy end to the Atlantic storm season, raising concerns over potential disruptions to oil and gas production.
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WASHINGTON - Oil prices cruised above $55-a-barrel yesterday as concerns about the global supply of winter fuels persist ahead of the Northern Hemisphere winter.
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Oil prices surged to a new high of $47 a barrel on Wednesday on evidence from major economies that energy costs are not substantially slowing the economic growth that fuels oil demand. Fresh threats by rebel militia in ...