Oil Price Tops $55; Heating Supply Low
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Oil closed above $55 a barrel Friday for the first time as traders worried about low stockpiles of heating oil and strong economic growth in China.
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Oil prices have surged past a record $55 per a barrel in Asian trade, amid concerns over winter fuel supplies. The price of crude for November delivery on the New York Mercantile Exchange hit $55.
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SINGAPORE - Crude oil futures hovered around the US$55-a-barrel mark Wednesday on fears of a heating oil shortage ahead of the northern winter, and oil cartel OPEC urged Washington to release more oil from its strategic reserve to calm the market.
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LONDON: Oil prices charged back up to $55 a barrel yesterday as a fresh fall in US heating oil stocks stoked worries over winter supplies.
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The U.S. average retail price for home heating oil soared 5.4 cents over the past week to a record $3.40 a gallon, the government said on Wednesday.
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Oil prices rallied to a record high  above $55 a barrel on Friday on rising fears of a winter fuel  supply crunch and robust economic growth in China, the world's  number two user.
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Oil futures prices surged to new heights above $55-abarrel on Friday as concerns about the global supply of heating oil persist ahead of winter in the Northern Hemisphere.
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Oil prices eased on Friday, but still  within sight of the $55-mark as traders feared time was running  out to top up low heating oil supplies before winter.
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Oil prices rallied to a record above $55 a barrel Monday on concerns over a winter fuel supply crunch, and as traders took comments from a top US official to mean high
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Crude oil prices surged past an unprecedented $55 a barrel before sliding back in overnight trading Monday, amid ongoing uncertainty over production, high demand and tight global supplies.
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Oil prices climbed back above $59 a barrel on Wednesday as a blast of cold weather boosts heating oil demand in the United States and OPEC supply cuts quicken the seasonal fall in crude stocks in industrialized countries.
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Oil prices climbed back above $59 a barrel on Wednesday as a blast of cold weather boosts heating oil demand in the United States and OPEC supply cuts quicken the seasonal fall in crude stocks in industrialised countries.
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A decline in the nation&#39;s inventory of heating oil catapulted crude futures prices toward $55 a barrel yesterday, providing the latest jolt to a market already
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Oil surged $1, toward $60, on Tuesday on expectations the coldest weather of the U.S. winter would cut heating oil stocks in the world's top energy consumer.
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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 prices surged to record highs above  $54 on Tuesday as supply hitches hindered efforts to build  winter heating fuel inventories.
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Oil prices charged back up to $55 a  barrel on Wednesday as a fresh fall in U.S. heating oil stocks  stoked worries over winter supplies.