New York crude smashes past 48 dollars for first time
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NEW YORK : New York crude oil smashed past 48 dollars a barrel for the first time, menacing the 50-dollar mark, as heavy fighting gripped the Iraqi city of Najaf.
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Crude oil surpassed $50 a barrel and was close to a record in New York after hurricanes in the Gulf of Mexico curbed US production for more than three weeks, slowing the accumulation of supplies to meet winter needs.
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The price of oil has continued its sharp rise overnight, closing at a record high. The main contract in New York, light sweet crude for delivery next month, has closed at a record $US46.75 a barrel - up 70 cents on yesterday&#39;s close.
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Business & money: Oil breaks through the $100 a barrel barrier in New York, in fresh blow to consumers and businesses
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Oil prices struck a fresh record above  $48 a barrel on Thursday, spurred higher by renewed violence in  Iraq and fresh evidence that strong demand growth in China and  India has not been slowed yet by higher energy costs.
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SINGAPORE - Crude oil prices surged past an unprecedented $55 per barrel Monday as uncertainty swirls over production, high demand and tight global supplies.    Crude for November delivery on the New York Mercantile Exchange hit $55.33 per barrel around noon in Asia, up 40 cents from its Friday settlement price...
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WASHINGTONâCrude futures prices surged above $48 (US) per barrel yesterday as oil production and shipping disruptions caused by Hurricane Ivan prompted domestic supplies to shrink more than expected.
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The price of crude oil broke into new record territory above &#36;52 Thursday on heightened concerns that supplies of heating fuels will prove inadequate during the northern hemisphere winter.
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Crude oil prices in New York stayed higher Tuesday after passing 50 dollars per barrel as Nigerian rebels threatened oil output and Hurricane Ivan slashed production in the US Gulf of Mexico.
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The price of New York crude surged to a new record high of 81.80 dollars a barrel on Tuesday ahead of a US interest rate call and as traders fretted over tight energy supplies in the United States.
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In New York the price of light sweet crude for November delivery climbed to an all-time peak of 50.47 dollars per barrel, the highest level since oil began trading on the New York market in 1983.
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Aug. 18 (Bloomberg) -- Crude oil futures in New York traded near a record $46.95 a barrel as strengthening US economic figures boosted concern that production capacity may not be adequate to meet global demand.
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Crude oil closed above 50 dollars per barrel Friday for the first time as traders worry below-normal US crude inventories could not meet the soaring demand in the upcoming months.
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Oil prices jumped more than a dollar,  climbing above $48 a barrel on Wednesday after U.S. data showed  the disruption caused by Hurricane Ivan had eaten into fuel  stocks.
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Crude oil in New York rose to a record $53.80 a barrel after the US said some production shutdowns in the Gulf of Mexico caused by Hurricane Ivan may last as long as six months.
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U.S. oil futures set a new record &#36;47.01 a barrel on Wednesday after a new threat against Iraq's oil sector by rebel Shi'ite militia.  U.S. crude traded up 26 cents to set a new high in the 21-year history of the New York Mercantile Exchange contract.
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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.