NY Crude Oil Surges Above $48 as Iraqi Fighting Cuts Exports
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Aug. 19 (Bloomberg) -- Crude oil futures jumped to a record $48.70 a barrel in New York on concern that Iraqi exports may drop further because of clashes in southern Iraq between US troops and fighters loyal to Shiite Muslim cleric Moqtada al- Sadr.
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Oil prices surged to a new high of $47 a  barrel on Wednesday after a new threat by rebel militia against  Iraqi oil facilities and as the United States said inflation  had stayed in check despite rising energy costs.
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WASHINGTONâCrude futures prices surged above $48 (US) per barrel yesterday as oil production and shipping disruptions caused by Hurricane Ivan prompted domestic supplies to shrink more than expected.
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Aug. 20 (Bloomberg) -- Crude oil futures rose to a record, surpassing $49 a barrel in New York, on concern that fighting between US forces and followers of Shiite Muslim cleric Moqtada al-Sadr will cut shipments.
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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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US oil prices have surged above $48 per barrel as production and shipping disruptions caused by Hurricane Ivan cause domestic supplies to shrink more than expected.
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Crude oil prices surged to a record in New York and London on concern that hurricane damage to production platforms in the Gulf of Mexico will keep supplies from rising enough to meet winter needs.
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Global oil prices rallied to fresh  highs on Friday with U.S. crude approaching $49, driven by  escalating violence in Iraq and unabated demand growth from  China and India.
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The price of crude oil futures surged to new highs Monday despite assurances from Middle East oil producers that they were committed to bringing the price down as a strike began in Africa's largest exporter.
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NYMEX crude oil futures jumped 36  cents in electronic trading on Monday evening to the  psychological $50 a barrel level, the highest in the 21 years  oil futures have traded on the exchange, as Nigerian rebels  decided an "all-out" war against the government starting Oct.  1.
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new yorkâCrude oil surged to a four-week high yesterday, bringing the gain this week to almost $3 (US) a barrel, on concern shutdowns caused by Hurricane Ivan will further reduce US inventories.
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CRUDE futures traded near $44 a barrel in pre-holiday trade as another pipeline attack in Iraq followed news that authorities in Moscow effectively re-nationalised the main production unit of Yukos.
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Crude futures climbed above $48 a barrel Thursday as market fears of sabotage against the Iraqi oil infrastructure outweighed assurances from Baghdad that exports would increase in coming days.
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By Malcolm Moore, Economics Correspondent (Filed: 21/08/2004). The price of oil came close to $50 a barrel in New York yesterday, as fighting between US forces and Moqtada al-Sadr&#39;s militia in Iraq continued to inflame the market.
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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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NEW YORK -- Oil prices have moved to fresh record highs of almost $47 a barrel on concerns about potential supply disruptions in Russia and Iraq.
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New York crude oil prices surpassed a record 90 dollars a barrel in after-hours trading Thursday as Iraq urged Turkey not to take military action against Kurdish rebels located in northern Iraq.