Mexican analyst: crude oil prices to go up
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Prices of crude oil on the world market will go up after the Organization of Petroleum Exporting Countries (OPEC) decided Friday to cut oil production by1 million barrels a day, said a Mexican analyst on Sunday.
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Crude oil futures prices rose above $43 a barrel Monday after an attack at the US consulate in Saudi Arabia and amid growing concerns that OPEC may try to firm-up oil prices after last week&#39;s sharp sell-off.
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Energy experts warn that the jump in the price of crude would raise prices for heating oil and gasoline in coming weeks.
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Rising tension in Nigeria has pushed US crude oil futures to the psychological $50 a barrel level in New York. Prices rose 36 cents in electronic trading Monday evening to touch $50, the
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Oil rose on Monday, nearing $91 a barrel, with prices supported by the closure of Mexico's oil export terminals due to bad weather, as well as OPEC's dismissal of calls to raise output.
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Crude oil 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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Oil prices rose 2 percent Tuesday on the back of a rally in heating oil and natural gas futures that was supported by colder weather in the Western Hemisphere.
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Crude oil prices were up $1.72 at $45.90 per barrel in afternoon trading on the New York Mercantile Exchange. Heating oil futures rose by 7.08 cents on Friday to $1.452 per gallon.
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The price of oil looks set to grab headlines as analysts forecast that its record-breaking run may well continue.
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SAN FRANCISCO (AFX) -- Crude-oil futures closed higher to tally a gain of 5 percent for the month, lifted by growing doubt that ChinaÃ¢â¬â¢s interest-rate hike will dampen energy demand, and the ever-existing possibility that supply disruptions could
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Crude oil futures moved upward past US$47 Tuesday, reflecting concern about tight distillate supplies despite expectations that a winter supply crisis will be averted.
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Crude oil prices briefly hit an all-time high of US$50.69 on Tuesday as worries persisted over supply and unrest in key producers.
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Crude oil prices rose for a third day in four yesterday amid concern about the loss of production and possible damage from Hurricane Ivan, which passed just east of Gulf of Mexico production platforms.
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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 prices surge to near record highs after production facilities are attacked in Mexico.
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Oil prices rose 2 percent yesterday on the back of a rally in heating oil and natural gas futures that was supported by colder weather in the Western Hemisphere.
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NEW YORK - Crude-oil futures rallied back above $53 late on Wednesday on speculation and panic sparked by an oil-line explosion in Mexico.