New York oil closes above 51 dollars for first time
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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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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 spiked up above $51 a barrel on Wednesday as increasing signs of an electoral victory for US President George W. Bush raised the prospect of continued
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LONDON  - Oil prices firmed, rising briefly above 50 dollars in New York, supported by supply disruptions to operations in the North Sea, making markets nervous heading into the northern winter.
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Oil prices have hit a new record near $51 a barrel as a prolonged US production outage following Hurricane Ivan attracted fresh speculative buying.
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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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The price of crude oil in New York hit a fresh 11-month high point on Thursday, and Brent traded close to its all-time peak, as traders tracked concerns over tight US energy supplies.
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US oil prices neared $51 per barrel Tuesday, steered by speculative buyers wary of US production after Hurricane Ivan and conflicts in other oil-producing nations.
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By Malcolm Moore, Economics Correspondent (Filed: 21/08/2004). The price of oil came close to $50 a barrel in New York yesterday, as fighting between US forces and Moqtada al-Sadr&#39;s militia in Iraq continued to inflame the market.
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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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Oil futures have jumped to their highest closing on record on the New York Mercantile Exchange, rising 76 US cents to $US49.64 dollars a barrel, as unrest in Nigeria and Saudi Arabia alarmed traders.
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Oil future prices climbed to a new high in New York on Monday as a strike began in NigeriaâAfrica&#39;s largest exporter of crude oil.
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OIL prices hit a new record yesterday, near $51 a barrel, as a prolonged US production stoppage following Hurricane Ivan attracted fresh speculative buying.
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Nymex crude oil surged to a record of 50 dollars per barrel Monday as traders concerned that the petroleum production in the Gulf of Mexico would not return tonormal soon.
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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
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Crude oil in New York traded near a record after exceeding $50 a barrel yesterday on threats to Nigeria&#39;s oil output and as US production remains lower than normal because of damage from Hurricane Ivan.
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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.