Oil Hovers Around $53 a Barrel
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That&#39;s despite assurances from Middle East oil producers that they were committed to bringing the price down as a strike began in Africa&#39;s largest exporter.
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Crude oil prices hovered close to their all-time high of US$53.80 in Asia on Tuesday, fueled by continuing worries over supply in Nigeria and reduced output in the hurricane-hobbled Gulf of Mexico.
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Oil prices held near historic highs  over $53 a barrel on Tuesday, with global supplies hounded by  outages that were thwarting efforts to build U.S. heating oil  inventories ahead of the winter.
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Oil prices held firm around $51 a  barrel on Wednesday, hovering near record highs amid the  sluggish recovery in U.S. Gulf oil production and an  anticipated decline in key winter fuel stocks, dealers said.
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Oil prices held strong on Friday not far  below the $55-a-barrel mark as traders worried time is running  out to top up low heating oil inventories before winter.
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Oil held above $61 on Wednesday as   dealers balanced an expected swelling in robust U.S. winter   fuel inventories against a warning from producer cartel OPEC   that it may take action to stabilize tumbling prices.
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Oil prices inched closer to $50 a barrel Thursday even as the Bush administration considered tapping the nation&#39;s emergency stockpile of crude on behalf of refiners whose supply was disrupted by Hurricane Ivan.
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Oil prices eased on Thursday but held near $61.50 a barrel after a climb the previous day on unexpectedly large falls in U.S. fuel inventories.
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WASHINGTON -- Oil prices reached $53 US a barrel yesterday and have advanced more than 20 per cent in a month, largely because hurricane-hobbled output in the Gulf of Mexico has not been restored as quickly as expected.
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Oil steadied near $66 a barrel on   Tuesday, with bargain-hunting traders ending a six-day retreat   after Iran sounded a softer note on its atomic program and OPEC   agreed to keep production steady for now.
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Oil steadied at below $69 a barrel on   Wednesday, hovering near its lowest in three and a half months   as dealers feared oil stocks may quickly build up now that the   northern hemisphere summer season has ended.
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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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Oil hovered around $63 a barrel on   Friday, near its lowest levels since March, as ample U.S. fuel   stocks looked set to meet winter heating demand in the world's   biggest consumer.
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SINGAPORE: Oil prices stayed on the boil above $53 a barrel on Monday, bolstered by persistent anxiety over Opec member Nigeria and the nearly month-long loss of a quarter of US Gulf of Mexico production, traders said.
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Oil futures prices sank nearly 5 percent yesterday, dropping below $53 a barrel, as concerns about tight winter-fuel supplies eased, at least temporarily, and traders
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Oil steadied near $63 a barrel on   Thursday, holding onto the previous day's gains supported by   investment fund buying and speculation that OPEC could trim   output to bolster prices.
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Oil prices stayed on the boil above  $53 a barrel on Monday, bolstered by persistent anxiety over  OPEC member Nigeria and the nearly month-long loss of a quarter  of U.S. Gulf of Mexico production, traders said.