Oil Above $100 on Inventory Report
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NEW YORK -- Oil futures rose to a new record of $100.09 a barrel Thursday after the government reported a larger-than-expected decline in crude oil inventories and an unexpected rise in heating oil supplies.
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Crude oil prices hit another milestone Wednesday, as the benchmark US crude touched $47 a barrel, with traders awaiting key inventory data due out later today.
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Oil prices rose on Tuesday on cheery  economic data showing that inflationary pressure was held in  check in July and ahead of weekly inventory due out on  Wednesday forecast to show a draw in crude stocks
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-- Crude oil prices spiked above $92 a barrel Friday on tensions in the Middle East and renewed concerns about supply.
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Oil prices jumped more than a dollar,  climbing above $48 a barrel on Wednesday after U.S. data showed  the disruption caused by Hurricane Ivan had eaten into fuel  stocks.
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Oil exceeded $79 a barrel today after OPECâs modest output increase failed to allay winter supply concerns as dealers focused on tight inventories in the United States.
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Oil prices dipped on Thursday after  leaping to a lifetime high of $100 the day before amid a  new-year rush of investor demand fuelled by expectations of  thinning U.S. stockpiles, the falling U.S. dollar and  geopolitical risks.
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ECONOMIC INDICATORS Housing and earnings will be the big topics this week. The price of oil could climb above $100 a barrel, and the markets could continue to be volatile.
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Oil surged beyond $90 to a new peak on  Friday as tight fuel stocks ahead of winter and a softening  dollar spurred investor buying.
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Oil futures prices climbed above $46 a barrel yesterday after the US government reported that commercial inventories of crude and heating oil fell last week and as traders considered the effect of global supply snags and forecasts calling for colder weather.
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Business & money: Crude oil over $100 a barrel for the first time, following jitters over possible tightening of supply
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NEW YORK -- Oil prices soared to $100 a barrel Wednesday for the first time ever, reaching that milestone amid an unshakeable view that global demand for oil and petroleum products will continue to outstrip supplies.
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Crude oil prices briefly crossed above the $90-a-barrel threshold today on the New York Mercantile Exchange, setting a record and coming very close to an inflation-adjusted record, too.
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NEW YORK - Crude oil prices took a big jump Wednesday after a US Energy Department report showed a drop in crude oil inventories amid a cold snap in the big oil-consuming states of the US northeast.
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Oil futures prices rose more than $1 a barrel in a volatile trading session yesterday after a government report showed a sharp rise in US crude supplies and tightening inventories of heating oil.
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Oil prices vaulted back above $50 a  barrel on Tuesday as traders took out insurance ahead of weekly  U.S. data on Wednesday that is expected to show only a modest  increase in winter heating oil inventories.
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U.S. stocks were higher on Wednesday  even as crude oil prices touched a record at over $52 per  barrel, which helped boost energy shares.