NYMEX light crude for December delivery rose 66 cents to $55.20 a barrel and IPE Brent December crude futures soared 72 cents to US$51.50 a barrel.
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Crude Futures Overtop $55
The threat pushed prices higher as there is little ready capacity globally to deal with ...
Oil prices exceeded $55 a barrel Tuesday amid concerns over inadequate world heating oil supplies ahead of the winter.
NYMEX light crude for December delivery rose 66 cents to $55.20 a barrel and IPE Brent December crude futures soared 72 cents to US$51.50 a barrel.
Prices surged to a record $55.67 on Monday after a Norwegian shipowners' group threatened to shut down the country's output to resolve a deadlocked strike, but recoiled after the government stepped in to end the dispute.
The threat pushed prices higher as there is little ready capacity globally to deal with the sort of supply disruption that the strike in Norway could have caused.
NYMEX light crude for December delivery rose 66 cents to $55.20 a barrel and IPE Brent December crude futures soared 72 cents to US$51.50 a barrel.
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