Oil Holds Near $53 High
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Oil prices held near record highs today even though oil unions in OPEC member Nigeria said a two-day wildcat strike would pass without any impact on exports.
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Oil prices reached $53 a barrel yesterday and have advanced more than 20 percent in a month, in large part because output in the Gulf of Mexico was hobbled by a hurricane and has not been restored as quickly as expected.
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Oil prices held steady near &#36;47 on Wednesday, a day after striking another record peak as U.S. inflation stayed in check despite scorching energy costs and ahead of weekly data expected to show a drop in crude stocks.
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Oil held near a seven-session high above   $63 a barrel on Thursday, supported by investment fund buying   and speculation that OPEC could trim output to bolster prices.
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Oil prices held firm around $51 per barrel on Wednesday, hovering near record highs amid the sluggish recovery in US Gulf oil production and an anticipated decline in key winter fuel stocks, dealers said.
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Oil stayed well above $64 a barrel on  Thursday as the stand-off over Iran's nuclear program and  concerns over Nigerian supplies due to an oil workers' strike  supported the market.
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Oil prices are holding near historic highs over $53 a barrel, with global supplies hounded by outages that were thwarting efforts to build US heating oil inventories ahead of the winter.
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Oil prices held strong on Friday not far below $55 as traders worried time is running out to top up low heating oil inventories before winter.
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Oil steadied near $66 a barrel on   Tuesday, with bargain-hunting traders ending a six-day retreat   after Iran sounded a softer note on its atomic program and OPEC   agreed to keep production steady for now.
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Oil steadied on Friday, having hit a   five-month low under $67 a barrel after U.S. fuel supplies rose   and BP said it might fully restore the largest U.S. oilfield   sooner than expected.
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still near the record high of $53 a barrel -- slipped a little Friday, as Nigerian union leaders and government officials entered last-minute talks to resolve a dispute over rising fuel prices.
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Oil prices held strong on Friday not far  below $55 as traders worried time is running out to top up low  heating oil inventories before winter.
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Oil stayed well above $64 a barrel on   Thursday as the stand-off over Iran's nuclear program and   concerns over Nigerian supplies due to an oil workers' strike   supported the market.
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Oil prices held near historic highs  over $53 a barrel on Tuesday, with global supplies hounded by  outages that were thwarting efforts to build U.S. heating oil  inventories ahead of the winter.
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Crude oil prices hovered close to their all-time high of US$53.80 in Asia on Tuesday, fueled by continuing worries over supply in Nigeria and reduced output in the hurricane-hobbled Gulf of Mexico.
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Oil prices held steady above $53 a barrel  on Wednesday as worries over a winter supply crunch countered  expectations that high fuel costs would curb growth in  petroleum demand next year.
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Oil steadied at a seven-day high of   just under $63 a barrel on Thursday, following the previous   day's $2 leap as traders awaited clearer signs from OPEC on   whether it would cut output to counter swelling U.S. stocks.