Oil hits high on Nigeria threat
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LONDON, England -- Oil prices have surged to historic levels as a threat of civil war in Nigeria adds to concerns over tight global supplies.
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Oil futures prices advanced to a new high Monday as a strike began in Africa&#39;s largest exporter of crude, exacerbating global supply concerns at a time of strong demand and reduced
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Oil prices have pushed above $49 a barrel, approaching record levels as worries about the stability of supplies from Iraq, Nigeria and Russia compound concerns over low fuel stocks ahead of winter.
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Nigerian unions began a four-day strike  on Monday, helping drive world oil prices to record highs  although shipments from Africa's top exporter were unaffected.
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Oil futures have jumped to their highest closing on record on the New York Mercantile Exchange, rising 76 US cents to $US49.64 dollars a barrel, as unrest in Nigeria and Saudi Arabia alarmed traders.
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Crude oil rose to a record $49.74 a barrel in New York amid concern rebel attacks in Nigeria will reduce production and US refiners will struggle to replenish supplies disrupted by Hurricane Ivan.
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Crude oil prices began their week higher after oil workers in Nigeria announced over the weekend they will launch an indefinite general strike later this month.
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LAGOS, Nigeria - With world oil prices surging to new highs, union leaders in Nigeria imposed a four-day strike yesterday across this volatile West African nation to protest the rising cost of fuel at home, shutting down huge swathes of the commercial
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Oil surged to record highs near &#36;76  on Thursday as worries over lower U.S. crude stocks were  underlined by increased tension in the oil-rich Middle East and  suspected explosions at a pipeline in OPEC exporter Nigeria.
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Oil prices vaulted to a record $100 a barrel on Wednesday as violence in Nigeria, tight energy stockpiles and a weaker dollar triggered a surge of speculative buying, dealers said.
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Oil prices set a new record today on concerns over tight winter heating fuel supplies and news that a strike in Nigeria could put some crude exports on hold.
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Nigerian unions began a four-day strike today, helping drive world oil prices to record highs although shipments from Africa&#39;s top producer were unaffected.
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Oil prices struck another record high on Thursday and remained supported above $47 by a fall in US crude stockpiles and threats by insurgents in Iraq against oil facilities.
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Crude oil futures have jumped back above $53 on speculation and panic sparked by an oil line explosion in Mexico. Traders are also nervously monitoring developments in Nigeria&#39;s national strike and recovery efforts in the Gulf of Mexico.
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Oil prices shot to an all-time high above $92 a barrel on Friday as the tumbling dollar and Nigerian output disruptions helped extend a rally that has lifted prices nearly 30 percent since August.
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Oil future prices climbed to a new high in New York on Monday as a strike began in NigeriaâAfrica&#39;s largest exporter of crude oil.
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Oil prices soared to a new record  above $50 on Tuesday as uncertainties over Nigerian output  heightened worries of a severe supply disruption ahead of  winter.