Oil Above $51 a Barrel on Supply Outage
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Oil prices leaped above $51 a barrel  on Tuesday as a prolonged U.S. production outage following  Hurricane Ivan attracted fresh speculative buying.
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Oil prices held near historic highs over &#36;53 a barrel on 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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LONDON: Oil prices extended record-setting highs above US$51 for US crude yesterday, led by worries over the impact of Hurricane Ivan on US winter fuel stocks.
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Oil prices held above $53 a barrel yesterday, setting a record, on lingering concerns about winter fuel supplies in the United States, operational snags in the Gulf of Mexico, and labor strife in petroleum-rich Nigeria.
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Oil prices are holding near historic highs over $53 a barrel, with global supplies hounded by outages that were thwarting efforts to build US heating oil inventories ahead of the winter.
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Oil prices briefly climbed back over $50  on Tuesday, pushed higher by supply outages in the North Sea  and fears about low stocks of winter heating fuels.
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Oil prices scrambled back over $50 a  barrel Tuesday, kept on edge by a prolonged production outage  in the Gulf of Mexico at a time when major exporters are  already pumping nearly full tilt.
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NEW YORK : New York&#39;s main crude oil contract closed above 51 dollars a barrel for the first time, riding a speculative wave powered by fear of interruptions to supply from the Gulf of Mexico.
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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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NEW YORK - Oil prices climbed close to $51 per barrel and pushed stocks slightly lower Tuesday as investors worried that rising energy costs would dampen a widely expected fourth quarter rally.    Wall Street was uneasy but not panicky as a barrel of light crude was quoted at a record high $50.77, up 86 cents, on the New York Mercantile Exchange...
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Oil prices have moved above $54 a barrel after the government reported a decline in the supply of distillate fuel, which includes heating oil.
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Oil prices briefly climbed back to $50  on Tuesday on supply outages in the North Sea and fears about  winter heating fuel supplies.
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Oil prices broke above $55 a barrel on Tuesday as concern lingered over thin world heating oil supplies ahead of the northern winter.
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LONDON - Oil prices hovered near $50 per barrel Tuesday after a Saudi Arabian oil official said the world's largest petroleum exporter would raise its production capacity by nearly 5 percent in a bid to calm markets.    Light sweet crude for November delivery was up 16 cents at $49.80 per barrel in late morning trading on the New York Mercantile Exchange, retreating from the $50.47 high reached in overnight electronic trade...
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Oil prices hit record highs again Wednesday, amid continuing concerns about the supply of crude oil. In New York, crude oil for future delivery hit an all-time high of $51.
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Oil prices climbed above $47 a barrel, setting yet another record, after figures showed that supplies in the United States were down for a third consecutive week.
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Crude oil surpassed $50 a barrel for the first time and analysts said Tuesday that prices could keep rising because of a sharp rise in global demand, tight supplies and threats to output in petroleum-producing nations such as Iraq and Nigeria.    Homeowners and energy-intensive industries could feel the sting from high oil prices worsen as seasonal demand picks up this winter, and there is already evidence that the supply disruptions caused by Hurricane Ivan are making it more costly to drive...