Oil prices rise as US crude supplies weaken
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New York - Oil prices rose sharply Wednesday following the release of a US government report that said crude supplies fell by more than expected last week due to disruptions caused by Hurricane Ivan.
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Crude prices rose Wednesday ahead of US petroleum inventory data and an OPEC meeting this week at which the group could decide on a production cut.
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Crude-oil prices rebounded Friday but remained below $50 a barrel after declining 4 percent in the last week due to rising US supplies of crude and natural gas.
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NEW YORK -- Oil prices rose above $70 a barrel yesterday, as persistently high fuel demand and concerns about possible supply disruptions in the Middle East and Nigeria offset news of increasing US inventories.
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Crude oil futures rose amid speculation that US inventories of heating oil, diesel and gasoline will continue to fall as demand exceeds refinery output.
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LONDON  - Oil prices see-sawed, failing to sustain a brief rally on news of a surprise fall in US distillate stockpiles, including heating fuel, and an unexpectedly small increase in crude inventories.
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Oil prices fell below $48 a barrel Wednesday after the US government reported increases in the nation&#39;s supply of crude oil and distillate fuel, which includes heating oil.
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NEW YORK - Oil prices continued climbing on Wednesday as supply concerns lingered and a weekly report showed US crude inventories were smaller than expected.
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A militant attack on the US consulate in Saudi Arabia and unrest in Nigeria pushed crude prices upward Tuesday, as supply fears crept back into play and traders considered a potential production cut from oil cartel OPEC.
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NEW YORK (CBS.MW) -- US stocks were slightly lower in early trading Tuesday as oil prices rose on the threat to supplies posed by Hurricane Ivan&#39;s progress through the Gulf of Mexico, with weaker-than-expected data further undermining sentiment.
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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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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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NEW YORK, October 27  - Crude oil prices declined sharply today after the US weekly inventory data revealed a higher-than-expected increase in crude oil inventories last week.
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NEW YORK -- Oil prices rose yesterday, reversing seven days of declines after the US government reported a decrease in the nation's crude inventories.
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Oil prices climbed toward $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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U.S. oil prices rose on Wednesday,  pausing from a losing streak well above $40 a barrel, although  dealers said data on fuel supplies in the United States due  later in the day may trigger a new slide in the market.
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LONDON  - Oil prices rose over worries about a possible supply shortage of US heating oil stocks during the northern hemisphere winter.