Oil hits record $100
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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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Crude oil prices briefly crossed above the $90-a-barrel threshold today on the New York Mercantile Exchange, setting a record and coming very close to an inflation-adjusted record, too.
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Oil prices hit a new record of 50.47 US dollars a barrel on Tuesday as rebels in Nigeria threatened oil output and hurricane Ivan slashed production in the Gulf of Mexico, despite Saudi Arabian pledge to increase output.
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Business & money: Crude oil over $100 a barrel for the first time, following jitters over possible tightening of supply
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The Christian Science Monitor - Oil futures hit a record $100 a barrel in futures trading this week, after attacks in Nigeria, Africa's leading oil producer. But most analysts expect that prices will decline from the current spike. A Reuters poll of 37 energy analysts' expectations yielded an average prediction of $74 a barrel for this year, compared with about $70 a barrel this past year.
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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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World oil prices vaulted to record highs Friday, stirring fears of $US60 a barrel for New York crude, as traders sweated over tight US energy stocks and rampant, China-driven demand.
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U.S. crude oil futures hit a record $100 a barrel on Wednesday, surging more than $4 as violence in OPEC members Nigeria and Algeria combined with a weak dollar and a cold snap to boost crude futures.
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Oil futures shot higher, closing above $100 for the first time as investors bet that crude prices will keep climbing despite evidence of plentiful supplies and falling demand.
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Oil prices set a new record today on concerns over tight winter heating fuel supplies and news that a strike in Nigeria could put some crude exports on hold.
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Oil prices broke into record  territory above $52 Thursday on heightened concerns that  supplies of heating fuels will prove inadequate during the  northern hemisphere winter.
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Oil soared to a record near $81 a barrel on Monday on worries that global energy supplies could shrink to critical levels this winter heating season due to strong demand growth.
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Oil surged to a record high above $81 a barrel on Tuesday, drawing strength from concerns of a winter supply squeeze in the world's top consumer where an anticipated interest rate cut is calming recession fears.
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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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Business & money: Opec under fire as US crude nears $100 a barrel.
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Oil prices soared to a new record  above $50 on Tuesday as uncertainties over Nigerian output  heightened worries of a severe supply disruption ahead of  winter.
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Oil eased from near a record high of $100 a barrel on Thursday, pressured after fuel inventories rose in top consumer the United States.