Update 3: Oil Prices Rise As Nigeria Strike Starts
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Oil futures prices rose slightly Monday despite assurances from Middle East countries that they were committed to keeping the market well supplied as a strike began in Africa&#39;s largest exporter of crude.
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Crude oil futures in New York rose after unions in Nigeria, the fifth-biggest supplier to the US, said they will disrupt the country&#39;s oil exports in an indefinite nationwide strike later this month.
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A nation-wide strike is under way in Nigeria to protest fuel price increases in the oil-rich west African nation. Reports from Abuja, the Nigerian capital, and Lagos, the country&#39;s commercial cenbter, say
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Nigerian unions Wednesday launched a potentially crippling general strike over a steep hike in petroleum prices in one of the world&#39;s foremost oil exporters.
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NORTH Sea Brent crude surged through $50-a-barrel for the first time yesterday, as a four-day general strike began in oil-rich Nigeria and the market fretted about out-of-action capacity in the Gulf of Mexico.
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Nigeria's main umbrella union said Sunday  it would go ahead with a general strike in Africa's top oil  producer Monday to protest against rising domestic fuel prices.
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Crude futures have surged above 52 dollars a barrel, reaching a new high in New York. Traders were reacting to a strike threat by Nigerian oil workers and to word that petroleum output in
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Crude oil futures rose Friday as markets remained wary about a possible strike by oil workers in Nigeria and potentially low heating oil supplies at the beginning of the Northern Hemisphere winter.
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A fresh attack on oil facilities in Nigeria and possible strike action by workers there sends oil prices above $70 a barrel.
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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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Oil prices pierced the $50-a-barrel mark again today amid concern over possible conflict in Nigeria's oil-producing delta region.
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The price of crude oil futures surged to new highs Monday despite assurances from Middle East oil producers that they were committed to bringing the price down as a strike began in Africa's largest exporter.
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Rising tension in Nigeria has pushed US crude oil futures to the psychological $50 a barrel level in New York. Prices rose 36 cents in electronic trading Monday evening to touch $50, the
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Unions vowed to extend a general strike over fuel prices in Nigeria to a second day on Tuesday, helping drive world oil prices to record highs even though shipments from Africa&#39;s top producer were unaffected.
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SINGAPORE : Crude oil prices were higher in Asian trading hours on Monday after oil workers in Nigeria announced over the weekend they would launch an indefinite general strike later this month, dealers said.
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Lagos, Nigeria, 10/11 - The four-day strike called by a coalition of Nigerian labour unions and civil society organisations to protest recent fuel price hike started Monday in the country.
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A four-day general strike begins against fuel price rises in Nigeria, Africa's biggest oil producer.