Oil Continues Upward March
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Crude oil prices jumped beyond $50 a barrel yesterday, renewing concerns that sustained high energy costs will further weaken the US economy.
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U.S. oil prices edged higher for the second day in a row on Tuesday amid calls within OPEC to crack down on excess output at this week's meeting.
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Crude oil futures rose yesterday ahead of an extended weekend for traders, even though weekly government data showed rising domestic inventories of crude and distillate fuel, which includes heating oil.
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Oil will continue to trend higher  after hitting fresh highs over $82 a barrel but is unlikely to  puncture the $100 level this year, Texas oilman and investor T.  Boone Pickens said on Wednesday.
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Oil prices edged higher for the second day on Wednesday ahead of US government data expected to show a slight decline in winter heating fuel stocks.
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Oil prices climbed toward &#36;47 a barrel on Thursday after bullish fuel stocks data in the United States and a series of production hitches across the globe rekindled worries of a major supply disruption.
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Oil rose above $61 on Wednesday, pushed higher by expectations colder weather in the U.S. Northeast would boost demand in the world's top heating oil market.
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Crude oil futures rose above $42 a barrel Wednesday after government data showed an increase in US fuel supplies. Traders were also focused on an upcoming OPEC meeting at which the group could trim output in response to falling prices.
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Oil prices rallied further on Monday,  clawing back toward $50 a barrel on heightened concerns over  low supplies of winter heating fuels.
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Oil prices extended their bounce from three-week lows on Monday, climbing back above $52 amid jitters over thin global winter fuel stocks and this week&#39;s presidential election.
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U.S. oil prices edged higher for the  second day in a row on Tuesday amid calls within OPEC to crack  down on excess output at this week's meeting.
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NEW YORK, October 26  - Crude oil prices resumed their upward rally to close at above $55 per barrel today, with a shift in focus back to the potential winter shortfall in the US inventories of heating oil, diesel and gasoline.
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Oil prices held firm just above $47 a  barrel on Friday, bolstered by a tightening outlook for market  fundamentals and sliding U.S. temperatures.
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Oil held steady near &#36;70 a barrel on  Friday as investors grew more optimistic about economic growth  and energy demand in the U.S., the world&#039;s top oil consumer.
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Investor's Business Daily - March crude rose $1.30 to $90.71 a barrel -- topping $91 intraday -- on rising beliefs that the U.S. is headed for a recession. Oil prices shot up $2.42 on Thu. after House leaders and President Bush agreed on a $150 bil economic stimulus plan. Crude hit a 3-month closing low of $86.99 on Wed. OPEC is expected to discuss further output hikes at its Feb. 1 meeting.
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Oil prices climbed above &#36;42 a barrel on Wednesday, rising for the third day in a row as the heavy consuming U.S. Northeast feels the first chills of winter.
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Oil prices continued to rally on  Monday, clawing back more of this months' losses on heightened  concerns over low global winter fuel supplies.