Oil below $70 as storm fears calm
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Oil prices fall despite concerns about Iran's nuclear ambitions, as a storm looks set to leave US oil installations untouched.
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Oil prices settled at a seven-month low yesterday, as rising global supplies, slack demand and a mild Atlantic hurricane season forced geopolitical worries to the back burner.
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Oil prices dipped on Thursday but held near the previous day's record high above $80 a barrel, as dealers watched a tropical storm in the Gulf of Mexico after a sharp fall in U.S. crude stocks.
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US oil prices slid more than half a dollar to below $44 a barrel on Monday as unusually mild winter weather in the United States curtailed demand.
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Oil prices on Monday continued a  retreat from record highs after tropical storm Ingrid faded in  the Atlantic over the weekend, soothing fears it could hit Gulf  of Mexico crude production and refining.
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Oil prices dipped on Thursday but held near $80 a barrel and the previous day's record high, as dealers watched a tropical storm in the Gulf of Mexico after a sharp fall in U.S. crude stocks.
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Oil prices steadied on Tuesday with concerns over gasoline supply in the United States keeping crude above the $70 mark even as fears eased that a cyclone in the Middle East would disrupt production.
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Oil prices eased on Friday as a hurricane subsided in the Gulf of Mexico, although prices held near the previous day's record high on supply worries ahead of peak winter demand.
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Oil prices dipped below $46 on Tuesday,  making a third day of falls as a more optimistic Iraq export  picture unwound some of the supply worries that have lifted the  market to historic levels.
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Oil prices hovered around flat on  Tuesday as milder weather in the immediate term eased concerns  about thin fuel stocks, but worries about possible supply  disruption in the Middle East and Russia limited selling.
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Oil prices rebounded on Tuesday after  sliding 3 percent on Monday as forecasts of continued mild  winter weather in the United States soothed concerns over low  heating oil stocks.
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Oil prices fell more than 3 percent on  Monday as forecasts of a return to mild winter weather in the  United States eased fears that thin heating fuel stockpiles  could prove inadequate.
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Oil prices fell Monday, nearing a  7-week low just under $47 a barrel, as growing fuel stocks in  the United States eased fears of a winter supply crunch despite  a cold snap in North America at the weekend.
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Oil prices fell on Monday to a seven-week low just under $47 a barrel, as growing fuel stocks in the United States eased fears of a winter supply crunch despite a cold snap in North America at the weekend.
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US oil prices hovered just shy of $44 a barrel on Tuesday, awaiting the arrival of Hurricane Ivan in the oil-rich Gulf of Mexico, where energy companies had evacuated thousands of offshore workers and shut some production.
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LONDON : Oil prices fell back as worries about the impact of tropical storm Frances subsided. The price of benchmark Brent North Sea crude oil for delivery in October lost 11 cents to 40.
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NEW YORK - Oil prices made an about face Friday, falling below $48 a barrel, as tensions between U.S. forces and rebel fighters in Iraq eased, raising hopes that attacks against the country's oil infrastructure would subside...