Oil Holds Above $48 Despite SPR Loans
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Oil&#39;s advance wavered a little on Friday as the US government prepared to lend out some strategic crude stocks, but traders said the amounts were small and that supply worries remained.
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Oil prices held steady on Thursday  unfazed by a fall in crude supplies in the United States, where  stocks are more than 20 million barrels above levels a year  ago.
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Oil prices held firm just above $47 a  barrel on Friday, bolstered by a tightening outlook for market  fundamentals and sliding U.S. temperatures.
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Oil prices rallied to a record above &#36;55 a barrel Monday on concerns over a winter fuel supply crunch, and as traders took comments from a top U.S. official to mean high prices have yet to really dent U.S. demand.
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Oil prices held firm just above &#36;47 a barrel on Friday, bolstered by a tightening outlook for market fundamentals and sliding U.S. temperatures.
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Crude futures prices surged above $48 per barrel Wednesday as oil production and shipping disruptions caused by Hurricane Ivan caused domestic supplies to shrink more than expected.
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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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Oil prices rose for a third day on   Tuesday, climbing back above $64 after a fresh delay to BP's   giant Thunder Horse oilfield in the Gulf of Mexico underscored   the difficulty in meeting future demand growth.
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Crude futures climbed above 48 dollars a barrel Wednesday as US Energy Department reported that domestic supplies fell more than expected.
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Crude oil prices surged to settle above 48 dollars per barrel Friday as traders concerned that OPEC might scale back output later this year.
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LONDON - Oil prices held strong above $53 a barrel today as worries over a winter supply crunch countered expectations that high fuel costs would curb growth in petroleum demand next year.
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Oil prices slipped on Tuesday but  remained well above $48 a barrel as dealers weighed up whether  a thin cushion of heating fuel in the United States would be  sufficient to meet winter demand.
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Oil prices were little changed on Thursday, holding above &#36;43 a barrel despite latest data showing rising stocks of winter heating fuels in the United States as mild weather suppressed demand.
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Oil steadied near $64 on Tuesday as   traders balanced healthy U.S. fuel stocks with a fresh delay to   BP's giant Thunder Horse oilfield in the Gulf of Mexico.
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Oil prices held firm on Friday after  leaping almost $2 a day earlier as the U.S. government said  crude stocks sank for the sixth straight week and distillate  fuels barely grew ahead of winter.
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Oil steadied above $64 on Thursday as   bargain hunters stepped in after a month-long rout and found   some support in a renewed U.S. push for immediate sanctions on   Iran, the world's fourth biggest crude exporter.
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US oil prices held above $46 a barrel on Tuesday on worries of a major supply disruption at a time when producers are pumping at full tilt to meet strong demand.