Oil prices hit record, then slide as Norway intervenes in strike
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NEW YORK : World oil prices raced to new record highs and then skidded as the Norwegian government announced it would intervene to end industrial strife in the huge oil sector.
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Oil fell more than $1 on Tuesday, retreating further from record highs set last week in response to concerns about the health of the U.S. economy and further indications OPEC has already substantially raised oil output.
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Oil futures prices advanced to another record high yesterday as a strike began in Africa's largest exporter of crude, exacerbating global supply concerns at a time of strong demand and reduced output in the hurricane-ravaged Gulf of Mexico.
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Norway's oil production faces a crisis in mid-November with a threat by oil sector groups to stage a lock-out to end industrial action which has weighed on the industry since July.
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Oil prices fell from record peaks for a  second session on Wednesday as traders took profits from a  searing rally on signs that high prices are finally starting to  dampen demand.
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NEW YORK -- Crude oil futures slipped yesterday as Norwegian officials ordered striking oil workers back on the job, preventing more cuts in production from the third-largest global exporter of crude.
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Oil prices hit new highs on both sides of the Atlantic this morning as a threat by Norwegian shipowners to halt production from the world&#39;s third biggest exporter fuelled fears of a winter supply crunch.
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NEW YORK - A fresh surge in oil prices set a new trading record and threatened to push past $50 per barrel Monday, unnerving investors and sending stocks lower.    After setting a new all-time record settlement price of $48.88 on Friday, oil continued its march higher on Monday, creating new worries on Wall Street that the slowdown in profits and the economic recovery would extend through the end of the year due to high energy costs...
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Crude oil prices retreated Monday as Norwegian officials ordered striking oil workers to resume their work, reducing market&#39;s fears over disruptions in Norwegian oil supplies.
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Oil prices broke into fresh 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 prices hit a new record of more  than $51 a barrel Tuesday as a prolonged U.S. production outage  following Hurricane Ivan attracted fresh speculative buying.
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Oil prices broke into new 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 hit a record high above $79 a barrel on Wednesday, propelled by an unexpectedly large drop in U.S. crude oil stocks that coincided with only a small output increase from OPEC ahead of peak winter demand.
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Oil prices hit a record high Thursday of more than $90 a barrel after reports indicated that the Organization of Petroleum Exporting Countries has no plans to increase production.
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Global crude oil prices, which shot up to record highs on Monday, continued to rule at the same level of close to $54 a barrel. Following the nationwide strike that began in Nigeria to protest against high
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LONDON -- Oil scaled a new high above $55 a barrel Monday as a threat by Norwegian ship owners to halt production from the world&#39;s third biggest exporter stoked fears of a winter supply crunch.
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Crude oil futures slipped Monday as Norwegian officials ordered striking oil workers back on the job Monday night, preventing any more cuts in production from the third-largest global exporter of crude.