Crude futures climb back above $55 a barrelOil prices 40% higher than year ago; EIA official says demand growth will be there, inventory surpluses going to disappear Brad Foss The Associated Press
Crude futures climbed 3 percent to settle above $55 a barrel June 3 as traders’ supply fears were bolstered by an Energy Department official who predicted new record highs for oil prices because of “paltry” domestic inventory levels.
Analysts have noted a variety of factors putting upward pressure....
[additional news subjects in this story]
Cook says might see $60 oil Xie: Growing inventories should lower prices EIA forecasts oil above $50 through 2006
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