Crude Oil Closes Above $55; Tight Winter Supply Is Seen
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Oil prices climbed again yesterday, closing above $55 a barrel for the first time, on concerns that supplies will be stretched thin this winter while demand from China remains solid.
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Crude oil futures edged up toward $50 a barrel today amid renewed fears over winter supplies. Light sweet crude for delivery in January traded at $49.49 a barrel at midday in Europe, up 60 cents from the contract&#39;s
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Oil prices rallied to a record above $55 a barrel Monday on concerns over a winter fuel supply crunch, and as traders took comments from a top US official to mean high
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Crude oil in New York traded near Friday s record close amid concern growing Chinese demand may strain supplies at a time when spare global production capacity is limited.
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Oil prices climbed again Friday, closing above $55 a barrel for the first time on conercns of domestic shortages in the upcoming winter.
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Crude oil futures inched toward the 55 dollar milestone today, a day after US officials announced a decline in their countryâs inventory of heating oil, heating a market already on edge over tight supplies, high demand and unrest in key producers.
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Oil futures prices briefly topped $55 US a barrel Wednesday after a report showed American supplies of distillate fuel, which includes heating oil and diesel, shrank for a fifth straight week, heightening fears of a winter-fuels crunch.
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US crude oil futures have surged above $55 a barrel in electronic trading due to widespread worries about northern winter fuel supplies, traders said.
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Oil prices held strong on Friday not far below the $55-a-barrel mark as traders worried time is running out to top up low heating oil inventories before winter.
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The price of crude oil surged past $55 a barrel Monday as uncertainty swirled over production, high demand and tight global supplies.
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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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New York&#39;s main crude oil contract shot to a record high of $55.45 a barrel on Friday amid deepening concern over US stocks of winter heating fuel.
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U.S. oil hit $55 a barrel on Friday as  traders worried over thin heating oil inventories ahead of  winter and Federal Reserve Chairman Alan Greenspan predicted  the soaring costs would not crimp economic growth as they did  in the 1970s.
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Crude oil futures briefly surpassed $50 a barrel Tuesday before closing lower amid concerns about low US heating oil inventories ahead of winter.
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Oil prices simmered near $55 a barrel on  Friday on rising fears of a winter fuel supply crunch and  robust but slowing economic growth in China, the world's number  two user.
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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 closed above $55 a barrel Friday for the first time as traders worried about low stockpiles of heating oil and strong economic growth in China.