Crude oil regains strength, thanks to Ivan
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CALGARY - Oil prices rose to their second-highest closing price on record yesterday, a final gift from Hurricane Ivan, which ravaged the US Gulf Coast last week, cutting oil imports south of the border and destroying key production facilities.
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The price of oil is on the rise as fears grow that Hurricane Ivan could disrupt oil supplies from the Gulf of Mexico.
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new yorkâCrude oil rose yesterday for a third day in four on concern about the loss of production and possible damage from Hurricane Ivan, which passed just east of most Gulf of Mexico production platforms.
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World oil prices are on the rise, as Hurricane Ivan threatens to disrupt oil flow in the Gulf of Mexico.
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Crude oil was little changed after rising 2.5 percent yesterday as the approach of Hurricane Ivan disrupted production and tanker shipments in the Gulf of Mexico, where a quarter of US oil and natural gas is pumped.
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Oil prices bounded higher for the fourth day in a row Tuesday, with traders expecting further declines in the nation&#39;s supply as petroleum producers disrupted by Hurricane Ivan continue to regroup.
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OIL&#39;S RECORD-breaking rally took US crude over US$52 a barrel yesterday fuelled by the impact of Hurricane Ivan on US winter inventories.
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Stocks regained some momentum today as oil prices declined in spite of Hurricane Ivan's threat to production in the Gulf of Mexico.
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Industry analyst Trilby Lundberg says the drop comes thanks to an increase in crude oil supplies combined with the recovery of US offshore oil production after Hurricane Ivan.
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Oil prices rose on Wednesday as  Hurricane Ivan -- one of the fiercest storms on record --  churned toward the southeastern United States, while the dollar  struggled with worrying economic data.
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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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Oil prices held firm, close to $47 a  barrel on Wednesday after U.S. data showed the disruption  caused by Hurricane Ivan had eaten into fuel stocks.
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World oil prices rose on Thursday on  worries about oil production shut by Hurricane Ivan and a new  storm that could delay imports from entering the Gulf of  Mexico.
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Hurricane Ivan held its grip on oil markets Tuesday, as shutdowns of production platforms in the Gulf of Mexico and fears of storm damage drove crude and gasoline prices higher.
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WORLD oil prices rose yesterday as Hurricane Ivan charged towards the oil-rich Gulf of Mexico, where energy companies evacuated thousands of offshore workers and halted some production.
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WASHINGTON - Oil prices rose Thursday despite reports that refineries along the Gulf Coast, as well as production platforms in the Gulf of Mexico, that had been shut down were slowly being restaffed, as Hurricane Ivan proved to be less disruptive than feared.   "We've really not heard of any refineries in that area reporting any problems," and several are already being restarted, said Tom Bentz, a trader at BNP Paribas Futures in New York...
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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.