Crude Oil Rises as Statoil Says Work Remains at Snorre Field
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Crude oil rose after Statoil ASA, Norway&#39;s biggest oil company, said a ``good deal&#39;&#39; of work remains before some 7 percent of the nation&#39;s output can restart.
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The Norwegian Petroleum Safety Authority on Monday approved Statoil ASA's plan to resume full production from its Snorre A field, which was shut down by a Nov. 28 natural gas leak.
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NEW YORK - Oil and gas futures rose yesterday on expectations the hurricane season will intensify and OPEC won't raise output when it meets next week.
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WASHINGTON -- Oil prices rose yesterday despite reports that refineries along the Gulf Coast and production platforms in the Gulf of Mexico which had been shut down were being restaffed as Hurricane Ivan proved less disruptive than feared.
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U.S. crude oil climbed above $60 a barrel  for the first time in a month on Friday, extending a gain of $2  a day earlier, amid signs of falling crude exports from  producer group OPEC.
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Crude oil futures rose for the first time in six sessions on concern that a cease-fire in Najaf, Iraq, won&#39;t eliminate attacks on oil facilities in the Middle East&#39;s fifth-biggest oil producer.
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WASHINGTON - Oil prices rose Thursday despite reports that refineries along the Gulf Coast, as well as production platforms in the Gulf of Mexico, that had been shut down were slowly being restaffed, as Hurricane Ivan proved to be less disruptive than feared.   "We've really not heard of any refineries in that area reporting any problems," and several are already being restarted, said Tom Bentz, a trader at BNP Paribas Futures in New York...
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The oil and gas firm keeps ratcheting up reserves.
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Oil prices rose Tuesday but stayed within the range the market has maintained since early October.
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Oil prices climbed above $42 a barrel on  Wednesday, rising for the third day in a row as cold weather  gripped the U.S. Northeast, the world's biggest heating fuel  market.
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Statoil sees soaring earnings as the oil and gas firm pushes ahead with the takeover of Norwegian rival Norsk Hydro.
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Crude oil rose after the biggest labor organization in Nigeria, the fifth-largest crude-oil supplier to the US, called for a strike later this month that could end up disrupting the country&#39;s oil exports.
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Crude oil futures rose for a second day amid speculation demand for heating oil may gain in the US after weather forecasters said unseasonably warm weather predicted this week will end in early January.
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Crude oil rose as reports of an explosion in Saudi Arabia&#39;s capital, Riyadh, boosted concern about security of oil facilities in the world&#39;s biggest oil exporter.
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Crude-oil futures continued higher Monday, rising more than 1 percent amid ongoing nervousness in the energy pits. Free! Sign up here to receive our Internet Daily e-Newsletter!
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Crude oil briefly bounced back into the black this morning after the release weekly supply levels. The Department of Energy (DOE) reported that crude oil inventories rose for the eighth consecutive week, gaining 800,000 barrels.
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Crude oil rose to a record for a sixth day, passing $54 a barrel in New York, as concern about US supplies grew after the International Energy Agency said demand this year is rising faster than expected.