Crude Steady Near 1-Month High on Concern About Russian Supply
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Crude oil futures were little changed close to a one-month high on concern Russian exports will be disrupted after utilities cut some power supplies to OAO Yukos Oil Co.
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LONDON  - Oil prices climbed to the highest level for almost one month after Russia&#39;s embattled oil giant Yukos slashed deliveries to China and as traders fretted over the impact of hurricanes on supplies.
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Crude oil futures continued to climb Friday, reaching a record high as decline in the US inventory of heating oil and tight supplies still overshadowed the energy markets.
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Crude oil prices reached a record high of $47.04 (US) a barrel in pre-market trading Wednesday in New York on lingering concerns about supply from Iraq and Russia.
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Oil prices held firm on Tuesday on  concerns about another cold snap in the United States and  possible supply disruption in the Middle East and Russia.
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Investors will watch for oil news from Russia and Iraq next week, but skepticism that crude prices can stay sky-high is growing and a break in the energy market would fuel a rally in U.S. stock markets.
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Oil prices were steady on Wednesday as  Hurricane Ivan's effect on crude output and refineries in the  Gulf of Mexico balanced OPEC's attempts to reassure traders  with a four percent output ceiling hike.
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Crude prices stayed firm on Wednesday as traders held their positions ahead of mid-week US petroleum inventories data and braced for a possible production cut from oil cartel OPEC, which meets later this week.
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Crude oil futures stayed within range of the $55 milestone Friday, a day after a decline in the US inventory of heating oil roiled a market already on edge over tight supplies, high demand and unrest among key producers.
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LONDON - Oil prices held strong above $53 a barrel today as worries over a winter supply crunch countered expectations that high fuel costs would curb growth in petroleum demand next year.
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U.S. oil prices were steady on  Thursday, holding gains of nearly $2 from a day earlier after a  U.S. government report showed crude oil stocks falling to their  lowest level in five months.
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Oil rose nearly $1 on Monday to match  its highest in almost a month, extending last week's late gains  as Venezuela threatened to halt oil exports to the United  States and bomb alerts shut down one of Britain's largest gas  fields.
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NEW YORK - Oil prices continued climbing on Wednesday as supply concerns lingered and a weekly report showed US crude inventories were smaller than expected.
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Oil prices held steady on Thursday  unfazed by a fall in crude supplies in the United States, where  stocks are more than 20 million barrels above levels a year  ago.
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High-flying oil held steady on Thursday, with worries over the security of Nigerian supply supporting prices despite a surprise build in US crude inventories.
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Crude oil prices neared their all-time record high of $49.40 US as supply fears in Iraq and other key producers pushed up early trade Monday, while the market took stock of hurricane Ivan&#39;s impact on oil rigs in the Gulf of Mexico.
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Oil prices held steady above $53 a barrel  on Wednesday as worries over a winter supply crunch countered  expectations that high fuel costs would curb growth in  petroleum demand next year.