Crude oil prices near 49 dollars per barrel in New York
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Crude oil prices neared 49 dollars per barrel Friday as Gulf of Mexico crude production rebounded at a slower pace than analysts had expected.
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Crude oil fell more than $1 for the first time in a month after reaching a record $54.45 a barrel in New York on speculation that demand doesn&#39;t warrant prices at this level.
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Crude oil surpassed $50 a barrel and was close to a record in New York as US production in the Gulf of Mexico took longer than expected to recover, slowing the buildup of inventories to meet winter needs.
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December delivery crude on the New York Mercantile Exchange dropped 76 cents to $46.11 per barrel. The benchmark light, sweet crude remained about $8 a barrel cheaper than its closing record of $55.17 recorded Oct. 22 and Oct. 26.
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Around noon on the New York Mercantile Exchange, benchmark January crude futures were down 50 cents to $42.75 a barrel, well off their intraday low of $42.05, a three-month low, but still a sharp decline on the day.
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Crude oil for delivery next month settled at $46.05 a barrel, down 53 cents, on the New York Mercantile Exchange after briefly trading at a new high of $46.91 early in the day.
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NEW YORK, December 2  - Crude oil futures steadied at under $46 per barrel in early morning trade today, after declining by more than $3 per barrel yesterday on reports of higher-than-expected increases in the US supplies of crude oil
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NEW YORK -- Oil prices neared $49 a barrel yesterday, capping a rise of 7 percent for the week, as Gulf of Mexico crude production rebounded at a slower-than-expected rate in the wake of Hurricane Ivan.
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Oil prices have surged to two-week highs following news that supplies in the US are tightening. In New York on Thursday, the cost of a barrel of oil rose almost $2 to $44.
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Crude oil prices were back at the $49-a-barrel level Monday, after a one-day bounce Friday. The benchmark US crude was off 54 cents at $49.
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NEW YORK (CP) - The price of crude oil continued gurgling up to new highs Thursday, touching $53 US per barrel in morning trading on the New York Mercantile Exchange.
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Crude oil prices rose to a record for a third day, reaching $52.62 a barrel in New York, on concern US supplies may be insufficient to meet demand this winter.
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Crude oil futures closed in on $49 a barrel Monday as traders kept an eye on the possibility of another OPEC production cut, turmoil in Nigeria and violence in Iraq ahead of the election.
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WASHINGTON Oil prices climbed toward $49 per barrel Thursday even as the Bush administration considered drawing crude from the US emergency stockpile and lending it to refiners whose supplies were disrupted by Hurricane Ivan.
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Aug. 20 (Bloomberg) -- Crude oil futures rose to a record, surpassing $49 a barrel on the New York Mercantile Exchange, on concern clashes in southern Iraq between US troops and Shiite Muslim militiamen may cut Iraqi exports.
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Crude futures for September delivery traded in New York rose today to $49.40 a barrel, up 70 cents.
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Severe cold weather in the north east of the United States forces oil prices above $49 a barrel, a seven week high.