US oil near year high above $77

(Reuters) - U.S. oil climbed above $77 on Wednesday, inching towards its all-time high, on forecasts for another weekly decline in crude stocks in top consumer the United States and a recovery in world share markets.

U.S. crude was up 48 cents at $77.31 a barrel by 1127 GMT after hitting $77.43, the highest since August 8, 2006. London Brent crude was up 58 cents at $76.32.


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US STOCKS-Oil sector, financials lift stock indexes

(Reuters) - Shares of Exxon Mobil Corp. , up 0.3 percent at
$86.77, also benefited from Lehman Brothers' increase in the
stock price target. U.S. crude oil futures rose 4 cents
to $72.85 a barrel.




The S&P index of financial shares rose 0.4
percent, reversing Tuesday's drop of 2.2 percent, its worst
decline since mid-March.


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Oil eases from 11-month high

(Reuters) - London Brent crude currently seen as a better indicator of the global market, eased 60 cents to $75.02 a barrel after briefly surging above $76 the previous session. The all-time record high for Brent is $78.65, reached in early August 2006.




U.S. crude fell 70 cents to $72.11 a barrel.


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Oil eases from 11-month high, supply worries persist

(Reuters) - London Brent crude , currently seen as a better indicator of the global market, eased 14 cents to $75.48 a barrel by 0637 GMT, within sight of Friday's $76.01 peak and near its all-time high of $78.65 a barrel one year ago on July 8.




U.S. crude fell 31 cents to $72.50 a barrel, still some distance from its record high of $78.40 touched on July 14, 2006.


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Oil above $71 on drop in U.S. fuel stocks

(Reuters) - London Brent crude rose 80 cents to $71.32 a barrel by 1110 GMT. U.S. crude oil was up 69 cents at $70.26 after reaching its highest settlement since August 2006.




While nationwide U.S. crude stocks rose by 1.6 million barrels to a nine-year high, the drop at Cushing has supported gains for U.S. crude and helped narrow its discount to Brent to around $1 a barrel.


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Oil holds around $70 as U.S. benchmark catches up

(Reuters) - U.S. crude rose 23 cents to $70.75 a barrel by 0714 GMT, after closing at its highest settlement since late August 2006 and breaching the $70 mark during overnight trade in New York. London Brent crude oil rose 25 cents to $69.82.




Crude oil stockpiles in Cushing, Oklahoma -- the delivery point for U.S. crude futures -- fell by 1.4 million barrels last week, although nationwide stocks rose 1.6 million barrels to a fresh nine-year high.


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U.S. Says Hurricanes May Cut Oil Output by 13 Million Barrels This Year

(Bloomberg) -- Hurricanes in the Gulf of Mexico
this year will cut U.S. crude oil production by about 13.2
million barrels and natural gas output by about 86.5 billion
cubic feet, the government said.

The U.S. Energy Department estimates are based on last
month's forecast from the National Oceanic and Atmospheric
Administration for an above-normal hurricane season, with 13 to
17 named storms in the Atlantic Basin. Seven to 10 of them will
likely become hurricanes, and three to five may become major
hurricanes with winds above 111 miles (179 kilometers) an hour.


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Oil dips as U.S. gasoline stockpiles seen climbing

(Reuters) - London Brent crude currently seen as more representative of the global market, was down 18 cents at $68.61 a barrel by 0409 GMT, extending a 77 cent drop on Tuesday. Brent's July contract expires on Thursday.




U.S. crude fell 19 cents to $65.16 after a 62 cent fall.


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Oil inches up after slide as supply worries remain

(Reuters) - Oil prices edged higher on Monday, as dealers saw a buying opportunity after a sharp slide, with OPEC producers maintaining supply curbs and worries remaining over U.S. summer gasoline supplies.

London Brent crude, seen as currently more representative of the global market, rose 19 cents to $68.79 a barrel at 0412 GMT, after plunging by $2.62 on Friday amid a commodities sell-off on fears of slower economic growth. U.S. crude rose 15 cents to $64.91 after a $2.17 drop.


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Oil above $68 after surprise US crude stock draw

(Reuters) - Oil held steady above $68 a barrel on Friday, building on the previous day's gains after an unexpected fall in U.S. crude oil stockpiles.

London Brent crude oil currently a better indicator of the global market than U.S. oil, rose 19 cents to $68.23 a barrel by 0551 GMT, having settled up 20 cents on Thursday. U.S. crude was up 19 cents at $64.20 a barrel.


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Brent oil near 9-month high on Nigeria, US gasoline

(Reuters) - Brent crude oil steadied over $70 a barrel on Tuesday after rallying to a 9-month high the previous day as more violence in Nigeria heightened worries of further disruptions to supplies.

Benchmark London Brent crude was up 2 cents at $70.51 a barrel by 0200 GMT, after surging $1.07 on Monday on news of an attack on a Nigerian oilfield. U.S. crude was down 2 cents at $66.25, after gaining $1.33 on Monday.


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