Oil: Price jumps on Bush win, US supplies swell
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NEW YORK - Oil prices rose on Wednesday as the re-election of US President George W. Bush countered a big increase in spare oil supplies ahead of winter.
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Oil prices jump to record closing levels in New York amid concerns about the US supply situation.
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Oil prices bounced back on Friday, ending this week&#39;s 8 per cent slide on renewed winter supply fears and jitters ahead of next week&#39;s US presidential election.
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Oil prices bounced higher on Friday following two days of sharp declines that came on the heels of rising inventories of crude in the US and a move by China to cool its economy.
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NEW YORK - Oil prices jumped to record highs above US$54 on Tuesday as supply hitches hindered efforts to build northern hemisphere winter heating fuel inventories.
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Global oil prices soar after a decline in US petrol and oil inventories that was larger-than-expected.
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The price of crude oil surged 4.8 percent in New York yesterday, the biggest rise in more than five months, on concern that cold weather in Europe will draw heating oil from the United States.
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Oil prices surged nearly $2 a barrel yesterday following two bombings in the capital of Saudi Arabia and after the US government reported that winter fuel supplies shrank last week.
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new yorkâCrude oil surged to a four-week high yesterday, bringing the gain this week to almost $3 (US) a barrel, on concern shutdowns caused by Hurricane Ivan will further reduce US inventories.
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Oil prices surged to a new high of $47 a  barrel on Wednesday on evidence from major economies that  energy costs are not substantially slowing the economic growth  that fuels oil demand. Fresh threats by rebel militia in Iraq  against oil facilities helped underpin price gains.
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Crude oil rose, erasing a 2 percent loss, after Senator John Kerry conceded the US presidential race to George W. Bush. The re-election of Bush means the US is likely to keep adding oil to its Strategic Petroleum Reserve.
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The price of oil futures jumped sharply Wednesday when a disappointing decline in the US heating-oil supply trumped growth in the crude stockpile.
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WASHINGTON -- Oil prices shot up above $48 US per barrel yesterday after the US government reported that supplies shrank more than expected following production and shipping disruptions caused by hurricane Ivan.
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The price of oil jumped back above 90 dollars on Friday, helped by a recovery in global stock markets on the back of plans for a stimulus package to prevent the US economy falling into recession, traders said.
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Oil prices leaped more than a dollar on  Friday on renewed concern over tight supplies of distillate  fuels in Europe and the United States ahead of the northern  hemisphere winter.
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Oil prices jumped nearly two dollars  on Thursday after the U.S. government said crude stocks fell to  a fresh five-month low last week and distillate fuel  inventories barely grew ahead of winter.
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Oil rose more than $1 to over $61 a barrel on Thursday after U.S. government data showed a sharp fall in fuel supplies last week.