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<i>Oil's record-breaking rally lifted U.S. crude beyond $52 a barrel on Wednesday, after closing at $51.09 a barrel in New York trading Tuesday, up $1.18 in a day, highest closing price ever and only the second time it ended the day at more than $50.
U.S. light crude set a new high of $52.15 a barrel before settling at $52.02, up 93 cents on the day. London Brent, the benchmark for European imports, peaked at $48.10, settling up 86 cents at $47.99.
The gain came despite government data showing that the nation's crude supply grew for the second week in a row.
The Energy Department reported that commercially available inventories of crude grew by 1.1 million barrels to 274 million barrels. That still leaves inventories 4% below year ago levels, a shortfall that has traders worried as global supplies remain tight and colder months approach...</i> [read more at <A HREF="http://www.usatoday.com/money/industries/energy/2004-10-05-oil_x.htm">usatoday.com</A>]
For information on how to save on winter heating, read the SavingAdvice.com article <A HREF="http://www.savingadvice.com/forums/showthread.php?t=18">Save On Heating</A> and to reduce gas consumption, <A HREF="http://www.savingadvice.com/forums/showthread.php?t=61">Tips To Save On Gas</A>.
U.S. light crude set a new high of $52.15 a barrel before settling at $52.02, up 93 cents on the day. London Brent, the benchmark for European imports, peaked at $48.10, settling up 86 cents at $47.99.
The gain came despite government data showing that the nation's crude supply grew for the second week in a row.
The Energy Department reported that commercially available inventories of crude grew by 1.1 million barrels to 274 million barrels. That still leaves inventories 4% below year ago levels, a shortfall that has traders worried as global supplies remain tight and colder months approach...</i> [read more at <A HREF="http://www.usatoday.com/money/industries/energy/2004-10-05-oil_x.htm">usatoday.com</A>]
For information on how to save on winter heating, read the SavingAdvice.com article <A HREF="http://www.savingadvice.com/forums/showthread.php?t=18">Save On Heating</A> and to reduce gas consumption, <A HREF="http://www.savingadvice.com/forums/showthread.php?t=61">Tips To Save On Gas</A>.