Oil Near $49 on Mounting Iraq Violence
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Global oil prices rallied to fresh  highs on Friday with U.S. crude approaching $49, driven by  escalating violence in Iraq and unabated demand growth from  China and India.
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Oil prices struck another record high on Thursday and remained supported above $47 by a fall in US crude stockpiles and threats by insurgents in Iraq against oil facilities.
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Global oil prices raced to fresh highs on Friday with US crude approaching $49, driven by escalating violence in Iraq and unabated demand growth from China and India.
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Oil prices struck a fresh record just  under $49 a barrel on Thursday, spurred higher by renewed  violence in Iraq and fresh evidence that strong demand growth  in China and India has not been slowed by higher energy costs.
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Aug. 20 (Bloomberg) -- Crude oil futures rose to a record, surpassing $49 a barrel on the New York Mercantile Exchange, on concern clashes in southern Iraq between US troops and Shiite Muslim militiamen may cut Iraqi exports.
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Oil prices pushed above &#36;49 a barrel on Monday, approaching record levels as worries about the stability of supplies from Iraq, Nigeria and Russia compounded concerns over low fuel stocks ahead of winter.
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Crude oil rose to a record $49.74 a barrel in New York amid concern rebel attacks in Nigeria will reduce production and US refiners will struggle to replenish supplies disrupted by Hurricane Ivan.
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U.S. oil futures set a new record &#36;47.01 a barrel on Wednesday after a new threat against Iraq's oil sector by rebel Shi'ite militia.  U.S. crude traded up 26 cents to set a new high in the 21-year history of the New York Mercantile Exchange contract.
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Aug. 20 (Bloomberg) -- Crude oil futures rose to a record, surpassing $49 a barrel in New York, on concern clashes in southern Iraq between US troops and Shiite Muslim militiamen may cut exports.
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NEW YORK : New York crude oil smashed past 48 dollars a barrel for the first time, menacing the 50-dollar mark, as heavy fighting gripped the Iraqi city of Najaf.
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WASHINGTON Oil prices climbed toward $49 per barrel Thursday even as the Bush administration considered drawing crude from the US emergency stockpile and lending it to refiners whose supplies were disrupted by Hurricane Ivan.
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Oil prices have surged to a new high of $47 a barrel after a new threat by rebel militia against Iraqi oil facilities, and as the United States says inflation has stayed in check despite rising energy costs.
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Oil held firm near $96 a barrel on Thursday after a three-day rally as traders awaited a sixth-weekly decline in U.S. crude inventories and attached a bigger supply-risk premium to Turkish bombing in northern Iraq.
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Oil prices clung near the $49 mark on  Tuesday, pausing from a 12 percent slide from record highs  ahead of key mid-week data on the health of winter fuel  stockpiles in the leading consumer, the United States.
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Oil prices climbed nearly a dollar on Monday, moving above &#36;46 a barrel on escalating sabotage at Iraqi oil facilities and the risk that a U.S. cold spell would strain thin winter fuel supplies.
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Oil prices edged further below &#36;49 a barrel on Tuesday as the frigid U.S. Northeast looked ahead to warmer conditions and some traders moved to the sidelines ahead of Iraqi elections and an OPEC meeting.
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Oil prices struck another record high  on Thursday and remained supported above $47 by a fall in U.S.  crude stockpiles and threats by insurgents in Iraq against oil  facilities.