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By Voanews The price of crude oil for future delivery hit a record $50.91 a barrel in New York. The price of Brent crude oil also set a record high in London. If you would like to receive late breaking news on stocks covered by AXcess News then you need to subscribe. By joining, box first.Print This Page Oct 5, 2004 (AXcess News) time highs today (Tuesday) in New York and London trading.

Currency Day Trading (AXcess News) New York - Crude oil hit a four-month high Friday, topping $68.10 a barrel for March delivery of light crude at $68.10 a barrel, up 91 centsin New York Mercantile trading. Crude for February delivery was last up 57 cents at $67.40 a barrel.

(AXcess News) Crude oil fell in New York trading Friday as national stocks of heating oil were considered high enough to support demand.Crude oil fell 2 cents a barrel to $63. 35pm Friday. Natural gas followed crude oil prices, declining 15 cents to $8.70. US inventory stocks of heating oil were 2. year seasonal average last week, while the US weather service reported that temperatures east of the Rocky Mountains will be higher than normal through Jan. 26. Also, an energy watchdog stated that heating oil demand in the Northeast, where 80 percent of the nation's home heating oil is consumed, would decline as much as 21 percent due to the warming trend.

Financial Software Trading In London, Brent crude for March delivery was up $1.18 a barrel at $66.40. March contracts are the lead-in for closing trading on both New York and London commodity exchanges.

There was a significant pullback in European stocks yesterday. European shares staged their largest daily fall since the onset of the credit crisis in August. Crude Oil and EUR prices hit record highs yesterday, as local exporters were the ones most greatly affected by the price jump. The EUR hit a record high of $1.4870 against the USD before easing to $1.4833. Since the middle of August, the currency pair has appreciated 11% in total.

Online Stock Trading Company Following yesterday's audio tape by Osama bin Laden that warned of pending attacks against the United States, commodity traders pushed crude oil prices higher both in New York and London Friday. Adding to those fears are unsettled responses to Iran's threat to cut off oil production if IAEA investigators recommend UN sanctions against the world's fourth-largest oil producer. Militant attacks in Nigeria against oil production rigs have already delayed shipments by several days, adding to production shortage concerns in commodity trading pits globally.

Dollar gains yesterday were also supported by the declining oil prices that hit a 19 month low yesterday. Due to the comfortable weather and the overall declining demand for oil products, crude oil is currently trading around a barrel. Lower energy costs are considered positive for economic growth as they constitute a sizable portion of overall inputs prices. This allows manufacturers to lower prices and consumers to buy more.

Forex Day Trading Natural gas prices climbed 38 cents at $9.29 per million British thermal units in New York.

Gasoline futures followed crude oil's decent in trading Tuesday with the NYMEX quoting wholesale gasoline at $1.735 a gallon, day trading. Heating oil was also down 5 cents at $1.93. Hurricane Wilma is centered approxamitely 245 miles southeast of Grand Cayman Island. The storm set a record for the number of tropical storms and hurricanes recorded for the Atlantic hurricane season, which has not been matched since 1933.

Financial In Market Heating oil rose 53 cents per gallon to $1.85.

Stock Trading System Unleaded gasoline was up .034 cents per gallon at $1.81.

Day Trading Stock Tip The market followed rumors that Iran had begun to transfer cash from foreign accounts yesterday in preparation for looming UN Security Council sanctions against the Middle East OPEC-member nation.

Financial Forex Forex Software According to Reuters, the Iranian central bank governor Ebrahinm Sheibani told the ISNA student news agency in Iran that it is transferring foreign reserves "wherever we see as expedient." AXcess News was unable to confirm Sheibani's alleged statement.

Stock Market Trading In Nigeria, union oil worker representatives have said they are considering a complete withdrawal of workers from the Niger Delta region if security measures are not improved. Last week, four Shell Oil union workers were kidnapped and held hostage there.

Day Lesson Stock Tip Trading The US Energy Department reported yesterday that crude oil inventories rose 2.7 million barrels for the week ended Jan. 13 and now stand at a total of 321.4 million. That's 12% above the year-ago level, the government data showed. But despite a rise in US stocks, traders were still bearish, taking into consideration lower production rates would could quickly reduce US inventories.

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