The price of New York crude oil soared above $126 per barrel on Friday, lifted by speculative demand amid concerns about tight global energy supplies, analysts said. New York’s main oil futures contract, light sweet crude for June delivery, spiked as high as $126,20 in London trading hours.
The price of New York crude oil surged past $125 per barrel on Friday, lifted by speculative demand amid concerns about tight global energy supplies, analysts said. New York’s main oil futures contract, light sweet crude for June delivery, spiked as high as $125,98 in early afternoon London trading.
Oil prices leapt higher on Thursday as concerns about tight supplies were stoked by news that saboteurs had blown up an Iraqi export pipeline, traders said. New York’s main oil contract, light sweet crude for delivery in May, rose by $1,68 to close at $107,58 per barrel. In intraday trade it had hit $108,22.
Oil prices struck a record high of $109,72 per barrel on Tuesday after the dollar hit a fresh all-time low against the euro and amid persistent energy-supply concerns, traders said. New York’s main oil contract, light sweet crude for delivery in April, soared to the historic level, beating the previous peak of $108,21, which was set on Monday.
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/ 29 February 2008
The price of New York crude oil hit an all-time high point of $103,05 per barrel on Friday owing to record weakness of the dollar, but then fell back, traders said. And the price of gold reached an historic peak of $976,32 per ounce. "This was part of a broad-based commodities run based on the continued weakness of the dollar," said Petromatrix analyst Olivier Jakob.
World oil prices eased further from the historic $100-a-barrel level on Monday after weak US employment data fanned worries about recession and demand in the world’s biggest energy consumer, dealers said. In afternoon trade, New York’s main contract, light sweet crude for delivery in February, was 71 cents lower at $97,20 a barrel.
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/ 1 December 2007
Oil prices fell back below a barrel on Friday amid speculation that the Organisation of the Petroleum Exporting Countries (Opec) will decide to increase its output at a meeting next week, analysts said. New York’s main contract, light sweet crude for January delivery, fell ,03 to close at ,71 per barrel, after earlier striking a one-month low of ,52.
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/ 30 November 2007
The price of oil fell back below a barrel on Friday as the market speculated about the chances of an increase in Organisation of the Petroleum Exporting Countries output at the cartel’s meeting next week, dealers said. New York’s main contract, light sweet crude for January delivery, was down ,75 to ,35 per barrel.
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/ 27 October 2007
World oil prices surged to historic highs on Friday, breaching $92 for the first time in New York amid rising tension in crude-rich Iran and tightening United States energy supplies. New York’s main futures contract, light sweet crude for delivery in December, soared to a record intraday high of $92,22 per barrel.
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/ 21 September 2007
The price of London Brent oil hit another all-time high on Friday on United States storm concerns at the end of a record-breaking week that saw New York crude soar beyond per barrel. The price of Brent North Sea crude for November delivery surged as high as ,35 per barrel, beating Thursday’s record.