Oil prices shoot above 90 dollars
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The price of oil jumped back above 90 dollars on Friday, helped by a recovery in global stock markets on the back of plans for a stimulus package to prevent the US economy falling into recession, traders said.
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Oil prices hit a fresh high above $82 a barrel after US interest rates are cut by half a percentage point.
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Oil prices climbed back above $59 a barrel on Wednesday ahead of an expected sharp fall in U.S. heating oil stocks as a blast of cold weather boosted demand in the world's top consumer.
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Oil futures shot higher, closing above $100 for the first time as investors bet that crude prices will keep climbing despite evidence of plentiful supplies and falling demand.
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Oil rises back above $91 a barrel after weekly US crude stockpiles fall much more sharply than expected.
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-- Oil prices climbed to a new high, above $81 a barrel, on expectations that the U.S. Federal Reserve will cut a key interest rate later Tuesday, a measure that has the potential to bolster the economy and strengthen petroleum demand in the world's largest energy consumer.
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Oil prices climbed back above $59 a barrel on Wednesday as a blast of cold weather boosts heating oil demand in the United States and OPEC supply cuts quicken the seasonal fall in crude stocks in industrialised countries.
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Oil prices shot to an all-time high above $92 a barrel on Friday as the tumbling dollar and Nigerian output disruptions helped extend a rally that has lifted prices nearly 30 percent since August.
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Oil prices climbed back above $59 a  barrel on Wednesday ahead of an expected sharp fall in weekly  U.S. distillate stocks as a blast of cold weather boosted  heating fuel demand in the world's top consumer.
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Oil prices hit another record on  Friday, trading as high as $53.40 a barrel, on supply worries  ahead of a planned oil worker strike in Nigeria and delays in  post-Hurricane Ivan U.S. output recovery efforts.
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Oil prices jumped more than a dollar,  climbing above $48 a barrel Wednesday after U.S. data showed  the disruption caused by Hurricane Ivan had eaten into fuel  stocks.
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Oil prices climbed back above $59 a barrel on Wednesday as a blast of cold weather boosts heating oil demand in the United States and OPEC supply cuts quicken the seasonal fall in crude stocks in industrialized countries.
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Oil jumped to a record high past $93 a barrel on Monday, as stormy weather disrupted supplies from giant exporter Mexico and the dollar wallowed near record lows.
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Oil prices surge past $70, hitting their highest level in 10 months on concerns about short-term supply.
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As soon as oil traders heard Wednesday that oil workers in Nigeria, a major petroleum exporter, threatened to join a national strike, their frenzied bidding drove up the price of crude oil by more than 90 cents, to more than $52 a barrel.
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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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The price of oil hit another high yesterday, closing above $47 a barrel as traders reacted to continuing concerns about supply disruptions from terrorism and instability in oil-producing countries.