Oil breaks through $90
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Oil surged beyond $90 to a new peak on Friday as tight fuel stocks ahead of winter and a softening dollar spurred investor buying.
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New York crude oil prices surpassed a record 90 dollars a barrel in after-hours trading Thursday as Iraq urged Turkey not to take military action against Kurdish rebels located in northern Iraq.
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Oil prices were hovering close to last weekâs record high today after breaking through the 50 US dollars mark again. Production problems in the Gulf of Mexico due to
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Oil prices have surged to two-week highs following news that supplies in the US are tightening. In New York on Thursday, the cost of a barrel of oil rose almost $2 to $44.
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Oil prices hit $100 a barrel Wednesday for the first time ever, amid an unshakeable view that global demand for oil and petroleum products will continue to outstrip supplies
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Crude oil futures shot past $90 a barrel, adding to concerns as the latest indicators on new home sales and manufactured goods continued to point to a weakening U.S. economy.
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Oil vaulted to a record $100 a barrel on Wednesday as geopolitical turmoil, tight energy stockpiles in consumer countries, and a weak dollar triggered a flood of speculative buying, dealers said.
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OIL&#39;S RECORD-breaking rally took US crude over US$52 a barrel yesterday fuelled by the impact of Hurricane Ivan on US winter inventories.
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Oil jumped a dollar to above $60 on Thursday after OPEC officials said the producer group will cut output by 1 million barrels per day as soon as possible to prop up prices.
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The price of New York crude hit a new record peak above 81 dollars on Tuesday ahead of a US interest rate call and as traders fretted over US energy supplies in the winter season.
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TORONTO - Oil prices broke through another new record, passing the $54-per-barrel mark on Tuesday. On the New York Mercantile Exchange, the price for the November contract for light sweet crude stood at $54.
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Oil eased after surging to a record high above $90 a barrel earlier on Friday as tight fuel stocks ahead of winter and a softening U.S. dollar spurred investor buying.
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Oil rose to above $90 a barrel on Friday, lifted by a broader stock market rally as the United States confirmed an economic stimulus plan to ward off a recession in the world's top energy consumer.
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Business & money: Oil breaks through the $100 a barrel barrier in New York, in fresh blow to consumers and businesses
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Oil hit a record high above $79 a barrel on Wednesday, propelled by an unexpectedly large drop in U.S. crude oil stocks that followed only a small output increase from OPEC ahead of peak winter demand.
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Crude oil prices spiked above $92 a barrel Friday on tensions in the Middle East and renewed concerns about supply.
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As the euro rose above $1.42 to a new high against the dollar, the price of crude oil also hit a record, briefly surpassing $90 a barrel in after-hours electronic trading.