Oil price climbs in New York despite rising US inventories
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NEW YORK : World oil prices rose on Wednesday as traders reacted coolly to news of a rise in US commercial energy reserves, sweating instead about an OPEC gathering in Cairo this week.
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Crude oil rose on Monday in New York as market concerned that the approach of Hurricane Ivan woulddisrupt production and tankers shipments in the Gulf of Mexico.
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The price of crude oil surged 4.8 percent in New York yesterday, the biggest rise in more than five months, on concern that cold weather in Europe will draw heating oil from the United States.
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World oil prices rose on Thursday as  concerns over a supply shortage after Hurricane Ivan persisted  despite news the U.S. will loan some oil from its reserves to  refineries to make up for lost production.
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World oil prices rose on Friday,  building on gains of almost $2 in the previous session when the  U.S. government said crude stocks sank for the sixth straight  week last week and distillate fuels barely grew ahead of  winter.
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Crude oil futures rose to a record for a third day, reaching US$52.53 a barrel in New York, on concern US supplies may be insufficient to meet demand this winter.
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Oil futures prices bolted 5 percent higher yesterday, climbing above $44 a barrel after US government data showed a slight decline in crude and heating oil supplies as colder weather in the Northeast drove up fuel demand.
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World oil prices rose to a new record high above 55 US dollars a barrel Friday, stirring fears of 60-dollar-a-barrel New York crude, as concerns about the global supply of heating
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Oil prices increased for a second day on Wednesday after the twin car bombings in the Saudi capital, Riyadh . US light crude oil prices finished at $43.64 a barrel, increasing by $1.87, or 4.47 percent, on the New York Mercantile Exchange.
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Oil prices resumed their march towards $50 in New York on Thursday as peace talks in major producer Nigeria and an unexpected rise in US crude inventories failed to ease traders&#39; fears about supply.
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Crude oil futures rose above $50 a barrel in New York on concern rebel attacks in Nigeria may reduce production while US inventories are near a 29-year low because of disruptions caused by Hurricane Ivan.
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Washington: Oil futures prices bolted 5 per cent higher, climbing above $44 a barrel after US government data showed a slight decline in crude and heating oil supplies as colder weather in the Northeast drove up fuel demand.
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Crude oil prices surged to a record in New York and London on concern that hurricane damage to production platforms in the Gulf of Mexico will keep supplies from rising enough to meet winter needs.
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The price of this key commodity has risen by about a third just since the beginning of July. In London, oil closed at $43.80 a barrel, while in New York oil closed at $48.70, up three percent.
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new yorkâCrude oil surged to a four-week high yesterday, bringing the gain this week to almost $3 (US) a barrel, on concern shutdowns caused by Hurricane Ivan will further reduce US inventories.
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NEW YORK -- Crude oil prices have resumed their climb after word that the nation&#39;s crude supply grew for the second week in a row.
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Oil prices jump to record closing levels in New York amid concerns about the US supply situation.