Oil rises to two-month high near $63
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Oil climbed to a two-month high near $63 on Thursday, building on the previous session's gains after an unexpected drop in U.S. winter fuel stocks and signs of solid economic growth in the world's top consumer.
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Crude oil rose to a two-week high on concern that heating oil supplies may be insufficient as the winter heating season approaches in North America and Europe.
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The dollar climbed to a two-month high  against the yen on Tuesday as traders took off bets that the  Chinese yuan would be revalued in the near term.
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A decline in the price of oil helped  lift U.S. stocks to their highest level in two-months on  Tuesday.
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Global oil prices set a 10-month high, breaking through the $73 a barrel level due to high US petrol demand.
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Crude futures prices traded near two-month lows on Wednesday after the US government reported that commercially available oil supplies increased for the eighth straight week.
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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 rose more than $1 to above $62 a barrel on Thursday after OPEC decided to cut its output by 2 percent starting in February.
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Oil futures reached their highest level in two weeks Friday as investors who had expected lower prices were forced to cover their bets amid colder weather and rising fuel demand.
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Crude oil futures prices surged by almost $2 a barrel yesterday, the biggest increase in two months, after the Energy Department reported that United States oil supplies had declined more than expected.
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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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VIENNA, Austria -- Oil prices rose above $62 a barrel Thursday as OPEC delegates said they had agreed in principle to leave production unchanged for now but set the stage for a likely cut of half a million barrels a day in February.
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Oil rose above $87 a barrel on Thursday after two days of losses, as production shutdowns in Nigeria and the North Sea outweighed growing evidence of weaker demand in the world's top oil consumer, the United States.
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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.
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Oil prices rose on Wednesday, pushed upwards by technical buying, but struggling to break above the narrow range that has persisted this month.
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Oil gained nearly $1 to trade above $62 a barrel on Thursday after OPEC decided to cut its output by 2 percent starting in February.
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Oil rose above $61 on Wednesday as   dealers balanced signs that producer group OPEC may take action   to stem tumbling prices against forecasts for a rise in U.S.   winter fuel stocks.