Oil prices zoom up to $53 US a barrel
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WASHINGTON -- Oil prices reached $53 US a barrel yesterday and have advanced more than 20 per cent in a month, largely because hurricane-hobbled output in the Gulf of Mexico has not been restored as quickly as expected.
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Crude oil continued to move upwards to fresh highs in Asian trade today, hitting a new mark of $52.53 US per barrel as the market took stock of a possible strike in Nigeria and the sluggish revival of output in key Gulf of Mexico oil
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THE cost of oil soared to a record $US49.64 a barrel today as unrest in Nigeria and Saudi Arabia alarmed traders. Oil futures jumped to their highest closing price on record on the New York Mercantile Exchange.
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Crude oil rose to $53.54 a barrel in electronic trading, up 23 cents from its record settlement price of $53.31 set on Friday.
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Oil prices hit a fresh high above $82 a barrel after US interest rates are cut by half a percentage point.
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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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After touching $53 a barrel, light crude for November delivery settled with a gain of 65 cents at $52.67. Oil prices have risen more than 20 percent over the past month, largely in reaction to news that output
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Oil prices surged to a new high of $47 a  barrel on Wednesday after a new threat by rebel militia against  Iraqi oil facilities and as the United States said inflation  had stayed in check despite rising energy costs.
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US light crude climbed to $49.36 a barrel, up 48 cents and just four cents below the record high set in late August at $49.40. In London, Brent crude oil futures in surged to a new peak of $45.
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Oil prices set a new record at $53 a  barrel on Thursday on concerns over tight winter heating fuel  supplies and news that a strike in Nigeria had put some crude  exports on hold.
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Crude oil prices pushed past the psychologically important US$50-per-barrel mark Tuesday to an all-time high of US$50.01 as the market reacted to the slow recovery of US oil production in the Gulf of Mexico following Hurricane Ivan.
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Oil futures prices have jumped 5 percent higher, climbing above $44 a barrel in the United States Wednesday after US government data showed a slight decline in crude and heating oil supplies as colder weather in the Northeast drove up
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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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LONDON - Oil prices held strong above $53 a barrel today 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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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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Overnight trading in Asia kept oil prices at around the USD53.64 closing record they set in NY last night. Analysts said the price was supported by new concerns about the possible effects of a general strike
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SINGAPORE - The price of crude oil surged past an unprecedented $55 per barrel Monday amid continued uncertainty over production, high demand and tight supply globally.    The price of crude for November delivery on the New York Mercantile Exchange reached $55.02 per barrel mid-morning in Asia, up 9 cents from its settlement price on Friday...