Crude Oil Rises Above $55 to Record on US Supply Concern
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Crude oil futures rose to a record in New York for a third day on speculation US demand for heating oil will deplete inventories this winter.
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Crude oil prices rose to a record in New York and London after hurricanes in the Gulf of Mexico curbed US production for more than three weeks, slowing the accumulation of supplies to meet winter needs.
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Oil futures prices briefly topped $55 US a barrel Wednesday after a report showed American supplies of distillate fuel, which includes heating oil and diesel, shrank for a fifth straight week, heightening fears of a winter-fuels crunch.
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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 prices surged to yet new record highs Tuesday, driving U.S. crude above $54 as global supply outages thwart efforts to build winter heating fuel inventories.
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The price of crude oil surged past $55 a barrel Monday as uncertainty swirled over production, high demand and tight global supplies.
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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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PARIS Crude oil prices rose to a record Thursday, reaching $53 for the first time amid continuing disruption to US production and a threat to Nigerian output from worker unrest.
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Crude oil futures stayed within range of the $55 milestone Friday, a day after a decline in the US inventory of heating oil roiled a market already on edge over tight supplies, high demand and unrest among key producers.
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Oil prices rise above $71 a barrel as fears intensify over Mid-East instability and insufficient supply in the US.
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Oil futures prices have jumped 5 percent higher, climbing above $44 a barrel in the United States Wednesday after US government data showed a slight decline in crude and heating oil supplies as colder weather in the Northeast drove up
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NEW YORK : New York&#39;s main crude oil contract shot to a record high 55.45 dollars a barrel amid deepening concern over US stocks of winter heating fuel.
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U.S. crude oil supplies rose more than   expected last week as imports surged to their second highest on   record, the federal government said on Wednesday.
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NEW YORK - Crude oil futures gained more than $2 US a barrel Friday as slumping inventories and frigid forecasts pushed oil to its highest level of the month.
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NEW YORK, October 26  - Crude oil prices resumed their upward rally to close at above $55 per barrel today, with a shift in focus back to the potential winter shortfall in the US inventories of heating oil, diesel and gasoline.
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U.S. crude oil futures hit a new  record on Tuesday at $50.01 a barrel as worries about the  stability of supplies from Iraq, Nigeria and Russia compounded  concerns over low fuel stocks ahead of peak winter demand.
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Crude oil may rise from a record US$53 a barrel over concerns that imports will not make up for a drop in Gulf of Mexico output caused by Hurricane Ivan.