By Jonathan Leff
SINGAPORE (Reuters) - Oil prices set historic highs near $54 a barrel Tuesday, with global supplies hounded by outages that were thwarting efforts to build U.S. heating oil inventories ahead of the winter.
U.S. light, sweet crude oil futures (CLc1: Quote, Profile, Research) surged 31 cents to record $53.95, making a sixth successive day of all-time peaks.
In London, Brent crude (LCOc1: Quote, Profile, Research) rallied 29 cents to $50.95 a barrel after crossing the $50 line for the first time Monday.
Oil prices have soared 65 percent this year as the strongest demand growth in over two decades caught major producers by surprise, leaving a tightly stretched global supply system little leeway to deal with unexpected outages.
Full story: http://bellaciao.org/en/article.php3?id_article=3714
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