Oil Price thread

Global oil prices have fallen in Tuesday trading on relief that Hurricane Dean is likely to miss key US platforms in the Gulf of Mexico.

http://news.bbc.co.uk/1/hi/business/6956364.stm

Global oil prices have soared after the US Energy Department reported a larger-than-expected decline in petrol and oil inventories.

Activity at refineries also dropped unexpectedly, the data suggested.

US light, sweet crude climbed $1.78 to $73.51 a barrel while in London, Brent crude added $1.58 to $72.13.

http://news.bbc.co.uk/1/hi/business/6969347.stm

Oil prices rose above $77 a barrel on Thursday as official data showed that US reserves of crude and petrol had fallen more heavily than expected.

http://news.bbc.co.uk/1/hi/business/6982100.stm

Oil prices have surged to near record highs after a series of attacks on energy facilities in Mexico, the world's fifth largest crude exporter.

Following the Mexican attacks, which have been blamed on a left-wing rebel group, US light was up 37 cents at $77.86 a barrel in early Tuesday trade.

http://news.bbc.co.uk/1/hi/business/6988559.stm

Opec members have agreed to increase oil production by 500,000 barrels a day to meet concerns about rising demand.

The 12-nation oil producers' cartel agreed to support a proposal from influential member Saudi Arabia to raise daily production from 1 November.

Oil prices have been touching record highs on fears of a growing imbalance between supply and demand.

But despite Opec's decision US light crude settled at a record closing price of $78.23, up 74 cents.

http://news.bbc.co.uk/1/hi/business/6988559.stm

[seven]

Still rising then

Oil prices have risen above $80 a barrel for the first time, a day after Opec moved to boost its output of crude in an effort to ease cost pressures.

http://news.bbc.co.uk/1/hi/business/6991567.stm

And it closed above $80 for the first time too.

The price of crude oil closed above $80 a barrel for the first time on Thursday, as a hurricane in Texas raised supply concerns.
US light, sweet crude hit $80.20, two cents higher than the price it touched on Wednesday, though fell back to end the day up 18 cents at $80.02.

http://news.bbc.co.uk/1/hi/business/6992597.stm

Oil prices have hit another record - breaching the $81 a barrel mark for the first time.

US light, sweet crude hit $81.01 in after hours trade on worries about rising demand amid constrained supply.

http://news.bbc.co.uk/1/hi/business/7000030.stm

Really not looking good is it.

Oil prices held close to $82 a barrel in Asian trade, as dealers kept a close watch on the development of a potential tropical storm in the Gulf of Mexico.

http://news.bbc.co.uk/1/hi/business/7006010.stm

Oil prices surge past the $83-a-barrel level after a US inventory report shows lower-than-expected stockpiles.

http://news.bbc.co.uk/1/hi/business/7040775.stm