Concern over inventories drives up oil price
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NEW YORKâOil prices jumped nearly $2 (US) yesterday after the US government said crude stocks fell to a fresh five-month low last week and distillate fuel inventories barely grew ahead of winter.
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Oil prices climbed higher in Asian trade today as fresh concerns over the possibility of energy shortages in the northern hemisphere winter sparked another wave of panic among investors, dealers said.
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Oil prices jumped from a four-month low on Wednesday as slow growth in US heating fuel inventories heightened fears for tight winter supplies.
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Oil prices edged higher on Wednesday ahead of weekly U.S. inventory data expected to show a fall in crude stockpiles but rising product tanks.
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The sharp rise in oil prices which recently creeps towards $60 per barrel has put many energy industries and those reliant on energy on the edge for fear of the adverse affects of escalating prices.
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World crude prices rise amid fears that oil supplies from the Gulf of Mexico could be disrupted by Hurricane Ivan, and as saboteurs strike a pipeline in Iraq.
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Oil prices surpassed $100 a barrel for the first time after a U.S. government report showed a steep slide in crude inventories.
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Oil prices jumped more than a dollar on  Thursday after the International Energy Agency warned that  faster-than-expected demand and disappointing world production  growth could put world supplies under strain.
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LONDON : World oil prices sprinted up to new one-month high points as traders showed alarm at a steep fall in US crude oil inventories in the wake of Hurricane Ivan.
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The price of crude oil rose to a record high yesterday even as the Bush administration agreed to tap the nation&#39;s emergency oil stockpile because of supply problems caused by Hurricane Ivan.
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Crude oil rose, extending a 4.7 percent gain in London yesterday, the biggest in seven weeks, amid concern that a larger-than-expected decline in US inventories last week reduced supplies available for production of heating fuels.
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Oil prices rose sharply on Friday as  worries a cold spell in the United States could erode already  depleted winter fuel inventories spurred the market higher.
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WASHINGTON -- The price of oil charged to a new high above $47 a barrel yesterday amid nagging concerns about instability in Iraq, the uncertain fate of Russian petroleum giant Yukos, and the world's limited supply cushion.
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NEW YORK -- Oil prices have moved to fresh record highs of almost $47 a barrel on concerns about potential supply disruptions in Russia and Iraq.
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Crude oil prices surged to a new high Monday on supply concerns ahead of the winter, a possible petroleum-industry strike in Norway and data showing that China&#39;s big demand for oil is likely to increase.
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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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NEW YORK -- Oil prices surged yesterday on fears of hurricane damage and lower-than-expected crude oil and gasoline inventory data released by the government.