Crude rising on OPEC concerns
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Crude oil futures closed in on $49 a barrel yesterday as traders considered the possibility of another OPEC production cut, turmoil in Nigeria, and violence in Iraq ahead of the election.
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Oil rose on Friday on U.S. supply concerns, the slumping dollar and mounting tensions in Pakistan and northern Iraq.
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Oil prices added to strong gains on  Thursday, spurred by persistent OPEC talk of a cut in supplies  ahead of the second quarter that could drain healthy U.S.  stockpiles before summer.
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Crude oil prices rose Friday amid worries about supply after Nigeria's powerful oil unions went on strike and gunmen kidnapped six oil workers in the nation's south. Concern about more tensions with Iran was also a factor.
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Oil prices rose on Friday, ending a  three-day losing streak, as dealers weighed OPEC's threat to  cut production against healthy supplies of crude and gasoline  in the United States, the world's biggest consumer.
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Crude oil climbed back over $50 a  barrel on Thursday, with worries over the security of Nigerian  supplies supporting prices despite a surprise increase in U.S.  crude inventories.
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NEW YORK - Oil prices continued climbing on Wednesday as supply concerns lingered and a weekly report showed US crude inventories were smaller than expected.
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Crude oil futures rose Wednesday ahead of an extended weekend for traders, even though weekly government data showed rising domestic inventories of crude and distillate fuel, which includes heating oil.
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Oil rose above $61 on Wednesday as   dealers balanced signs that producer group OPEC may take action   to stem tumbling prices against forecasts for a rise in U.S.   winter fuel stocks.
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Crude oil prices surged to settle above 48 dollars per barrel Friday as traders concerned that OPEC might scale back output later this year.
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NEW YORK -- Oil prices rose above $70 a barrel yesterday, as persistently high fuel demand and concerns about possible supply disruptions in the Middle East and Nigeria offset news of increasing US inventories.
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Crude futures rose Friday amid market jitters over possible production cuts by OPEC at their meeting in Egypt, as well as fears that winter weather will put pressure on supplies.
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WORLD oil prices rose overnight as traders reacted coolly to news of a rise in US commercial energy reserves, sweating instead about an OPEC gathering in Cairo this week.
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Oil prices climb a dollar to tip beyond $70 a barrel in London as fears over supplies increase.
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World oil prices rose on Thursday as OPEC ministers gathering in Cairo raised the prospect of cutting output. New York&#39;s main contract, light sweet crude for delivery in January, climbed 59 cents to 42.53 dollars a barrel.
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Crude oil futures rose above $42 a barrel Wednesday after government data showed an increase in US fuel supplies. Traders were also focused on an upcoming OPEC meeting at which the group could trim output in response to falling prices.
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Oil rose more than $1 to above $62 a barrel on Thursday after OPEC decided to cut its output by 2 percent starting in February.