Surging crude stays near record high
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BEIRUT: Oil prices remained near recent peaks on Friday, with US crude trading just below $55-a-barrel. In midday New York trading, WTI was down 21 cents at $54.
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Oil prices have hit record highs in the United States for the third straight day in early trading Thursday, amid continuing concerns about the supply of crude oil.
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Crude oil prices hovered near an all-time record high of US$49.40 as supply fears in Iraq and other key producers pushed up early trading Monday, while the market took stock of Hurricane Ivan&#39;s impact on oil rigs in the Gulf of Mexico.
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New York&#39;s main crude oil contract shot to a record high of $55.45 a barrel on Friday amid deepening concern over US stocks of winter heating fuel.
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Oil hit a record high above $79 a barrel on Wednesday, propelled by an unexpectedly large drop in U.S. crude oil stocks that coincided with only a small output increase from OPEC ahead of peak winter demand.
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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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Crude oil futures rose to a record $55.45 a barrel in New York after a report that the Chinese economy grew more than expected. Oil&#39;s rally lifted heating oil to a record and natural gas to a 20-month high.
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NYMEX crude kept close to record  highs near $54 early on Tuesday as global oil supplies remained  hounded by disruptions, magnifying concerns over U.S. heating  oil stocks ahead of the winter, traders said.
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Oil prices struck another record high on Thursday and remained supported above $47 by a fall in US crude stockpiles and threats by insurgents in Iraq against oil facilities.
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Oil will continue to trend higher after hitting fresh highs over $82 a barrel but are unlikely to puncture the $100 level this year, Texas oilman and investor T. Boone Pickens said on Wednesday.
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NEW YORK : Crude oil futures jumped to a record high closing on the New York Mercantile Exchange Friday, as markets fretted over tight US supplies despite a decision to release small amounts from a strategic reserve.
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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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Oil prices rose close to a record high  on Tuesday on U.S. economic data showing that inflationary  pressure was held in check in July and ahead of weekly  inventory due out on Wednesday and forecast to show a draw in  crude stocks.
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NEW YORK, Sept 27  - Oil futures jumped to their highest closing on record Monday on the New York Mercantile Exchange, rising 76 cents to 49.
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Oil prices held near record peaks on  Thursday after a larger-than-expected decline in heating fuels  in the United States heightened fears of a winter supply  crunch.
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NEW YORK, October 8  - Crude oil price increased to a new record high of $53.40 per barrel at the New York Mercantile Exchange (NYMEX) today, marking the fourth consecutive day of new record high levels.
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Though oil prices have eased slightly, they remain close to record high points approaching $55 a barrel. World oil prices have more than doubled from about $20 a barrel in New York at the start