Oil dips after touching record $54 a barrel
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WASHINGTON: Oil prices retreated slightly yesterday after surpassing $54 a barrel amid nagging concerns in the market that the global supply buffer is too thin to handle a significant output disruption.
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Crude oil rose to a record for a sixth day, passing $54 a barrel in New York, as concern about US supplies grew after the International Energy Agency said demand this year is rising faster than expected.
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Oil steadied below $58 a barrel on Thursday after its repeated failure to breach $60 triggered a two-percent sell-off the previous day.
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Oil prices dipped on Thursday but held near the previous day's record high above $80 a barrel, as dealers watched a tropical storm in the Gulf of Mexico after a sharp fall in U.S. crude stocks.
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Oil prices surged to yet new record highs Tuesday, driving U.S. crude above $54 as global supply outages thwart efforts to build winter heating fuel inventories.
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LONDON  - Oil prices remained stubbornly above 54 dollars, creeping up towards new record summits on worries of a winter supply crunch after a fifth straight weekly fall in US heating fuel stockpiles.
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NEW YORK - Investors sent stocks lower Tuesday as oil prices crossed another milestone, $54 per barrel. Mixed earnings reports from heavyweights Johnson & Johnson and Merrill Lynch & Co...
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Oil prices eased on Thursday but held near $61.50 a barrel after a climb the previous day on unexpectedly large falls in U.S. fuel inventories.
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Oil prices eased to &#36;45 a barrel on Tuesday, extending a profit-taking set-back despite a looming cold spell in the eastern United States and global supply outages.
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Oil deepened its three-month slide, closing in on $58 a barrel, due to expectations of a rise in brimming U.S. fuel stockpiles and in the absence of more supply cuts by OPEC members.
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Oil prices fell on Friday as U.S. economic concerns mounted and traders took profits from a rally this week that sent prices to near record levels. U.S. crude settled down 62 cents at $96 a barrel, after trading as high as $97.92. London Brent settled 90 cents lower at $93.88 a barrel.
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Oil fell more than a dollar to below $62 a barrel on Monday as healthy fuel inventories in top consumer the United States countered plans by OPEC members Nigeria and Venezuela to trim output.
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Oil prices jumped to record highs  above $54 on Tuesday as supply hitches hindered efforts to  build winter heating fuel inventories. They later shed over a  $1 a barrel as traders took profits from the surge.
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NEW YORK, October 12  - World crude oil prices continued their upward rally today above $54 per barrel, rising to new record high levels for the sixth consecutive day.
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Oil prices dipped on Thursday but  held near $80 a barrel and the previous day&#39;s record high, as  dealers watched a tropical storm in the Gulf of Mexico after a  sharp fall in U.S. crude stocks.
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Oil fell back toward $62 on Friday after   OPEC member Nigeria appeared to be alone in its decision to   trim output to stem a two-month price slide.
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Oil prices dipped on Thursday but held near the previous day's record high above $80 a barrel, as dealers watched a hurricane in the Gulf of Mexico after a sharp fall in U.S. crude stocks.