Oil breaks $100 as U.S. stockpiles drop
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Oil prices broke above $100 a barrel for the first time on Thursday after a U.S. government report showed a steep slide in crude inventories in the world's biggest energy consumer.
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Business & money: Crude oil over $100 a barrel for the first time, following jitters over possible tightening of supply
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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 surged nearly 5 percent on Tuesday to hit a record over $100 a barrel on expectations OPEC will not hike output to ease high prices next month despite the economic woes of top consumer the United States.
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Oil's record-breaking rally lifted U.S.  crude beyond $52 a barrel on Wednesday, fueled by the impact of  Hurricane Ivan on U.S. winter inventories.
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Oil fell more than a dollar on Wednesday after U.S. inventory data showed a much bigger than expected rise in crude stockpiles.
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Oil  prices ease after hitting $100 a barrel as the weak dollar and violence in Nigeria and Algeria boost prices.
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Oil fell more than a dollar on Wednesday after U.S. inventory data showed a much bigger-than-expected rise in crude stockpiles.
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Stocks plunged on the first trading day of 2008 on Wednesday after oil hit $100 a barrel and U.S. manufacturing data showed signs of contraction, raising fears the economy may be heading into recession.
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Oil vaulted to a record $100 a barrel on Wednesday as geopolitical turmoil, tight energy stockpiles, and a weak dollar triggered a flood of speculative buying, dealers said.
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U.S. stocks finished sharply lower on Wednesday, the first trading day of 2008, after data showed a surprise contraction in manufacturing and oil surged to $100 a barrel, heightening concerns about the economy's outlook.
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Oil prices broke above $100 a barrel for the first time on Thursday, after a U.S. government report showed a steep slide in crude inventories in the world's biggest energy consumer.
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Oil fell $2 a barrel on Friday from its $100 lifetime high as gloomy U.S. jobs data heightened concern about a slowdown in the world's top consumer that could dampen fuel demand.
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Oil fell more than $1 a barrel on Wednesday after a U.S. government report showed larger-than-expected increases in crude and gasoline stockpiles in the world's top consumer.
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Oil fell after surging to a record high above $90 a barrel earlier on Friday as tight fuel stocks ahead of winter and a softening U.S. dollar spurred investor buying.
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Oil firmed almost $1 to above $97 a barrel on Friday, within sight of its record high, bolstered by a fall in U.S. fuel inventories and mounting tension in Pakistan and northern Iraq.
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Oil vaulted to a record $100 a barrel on Wednesday as geopolitical turmoil, tight energy stockpiles in consumer countries, and a weak dollar triggered a flood of speculative buying, dealers said.