Oil hits record on Mexico outage
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Oil leapt to its third record high in a row on Monday as a brief halt to one-fifth of Mexico's production added fuel to a rally driven by a stand-off between Turkey and Kurdish rebels, a weak dollar and winter supply fears.
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NYMEX crude oil futures struck  another record at $48.90 a barrel on Friday before the  prompt-month expiry, as surging violence in Iraq sparked fresh  concerns over supply disruptions.
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Oil rallied to a fresh record high above $92 a barrel on Friday as the dollar tumbled to a record low, Washington imposed new sanctions on Iran and gunmen shut more oil production in Nigeria.
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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.
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Oil prices surged to yet new record highs Tuesday, driving U.S. crude above $54 as global supply outages thwart efforts to build winter heating fuel inventories.
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Oil hit an all-time high over $80 a barrel on Thursday after Hurricane Humberto forced the closure of some U.S. Gulf refiners, stoking supply concerns amid falling inventories in the world's top consumer.
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THE cost of oil soared to a record $US49.64 a barrel today as unrest in Nigeria and Saudi Arabia alarmed traders. Oil futures jumped to their highest closing price on record on the New York Mercantile Exchange.
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Oil futures prices advanced to another record high yesterday as a strike began in Africa's largest exporter of crude, exacerbating global supply concerns at a time of strong demand and reduced output in the hurricane-ravaged Gulf of Mexico.
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Oil surges to a record of nearly $79, despite Opec saying it will boost oil output to ease cost pressures.
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Oil leapt to a record high for a third day on Monday, surpassing $93 as Mexico briefly halted one-fifth of its production and the U.S. dollar struck new lows.
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Oil leapt to a record high for a third day on Monday, surpassing $93 as investors bet on another U.S. interest rate cut this week, the dollar struck new lows and Mexico briefly halted one-fifth of its oil production.
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Crude oil prices jumped above $51 a barrel yesterday, setting a fresh record amid a prolonged production shut-down in the Gulf of Mexico in the wake of Hurricane Ivan.
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Oil prices hit a new record of more  than $51 a barrel Tuesday as a prolonged U.S. production outage  following Hurricane Ivan attracted fresh speculative buying.
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Oil rose on Monday, nearing $91 a  barrel, with prices supported by the closure of Mexico's oil  export terminals due to bad weather, as well as OPEC's  dismissal of calls to raise output.
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Oil soared to another record yesterday on worries that global energy supplies could shrink to critical levels during this winter heating season because of strong growth in demand.
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The record is in response to the slow recovery of US oil production after Hurricane Ivan in Florida, as well as unrest in key producers Saudi Arabia, Iraq and Nigeria.
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Oil prices hit a new record near $51 a barrel yesterday as a prolonged US production outage following Hurricane Ivan attracted fresh speculative buying.