Security fears boost oil prices
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Oil prices have raced to new record high levels after oil majors evacuated workers in Nigeria and police clashed with suspected Islamic militants in the Saudi Arabian capital, Riyadh.
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By George Chamberlin , Daily Transcript Financial Correspondent. Word of new terrorist attacks in Saudi Arabia on Wednesday sent oil prices higher and stocks lower.
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Oil prices surged nearly $2 a barrel yesterday following two bombings in the capital of Saudi Arabia and after the US government reported that winter fuel supplies shrank last week.
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Crude-oil futures rose Friday on fears of a possible terrorist attack before Tuesday&#39;s US election, but the market&#39;s recent downturn may continue next week.
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Global crude oil prices rose on Monday after gunmen stormed a US consulate in Saudi Arabia, arresting a three-day, 13-percent price slide.
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NEW YORK -- Oil prices rose above $70 a barrel yesterday, as persistently high fuel demand and concerns about possible supply disruptions in the Middle East and Nigeria offset news of increasing US inventories.
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Crude oil prices rose Friday amid worries about supply after Nigeria's powerful oil unions went on strike and gunmen kidnapped six oil workers in the nation's south. Concern about more tensions with Iran was also a factor.
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World oil prices climbed on Monday as companies operating in the US Gulf of Mexico braced for output disruptions from powerful Hurricane Ivan.
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Oil prices rally, adding almost $1 amid concerns that more crude will need to be refined to boost US petrol reserves.
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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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A militant attack on the US consulate in Saudi Arabia and unrest in Nigeria pushed crude prices upward Tuesday, as supply fears crept back into play and traders considered a potential production cut from oil cartel OPEC.
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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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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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Oil prices have surged to a new high of $47 a barrel after a new threat by rebel militia against Iraqi oil facilities, and as the United States says inflation has stayed in check despite rising energy costs.
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Crude oil futures prices rose Wednesday amid concerns about tight heating oil supplies and fears that OPEC could rein in output when it meets later this week.
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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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Oil prices surged to a new high of $47 a  barrel on Wednesday after a new threat by rebel militia against  Iraqi oil facilities and as the United States said inflation  had stayed in check despite rising energy costs.