Nigeria concerns support oil prices
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Oil prices held steady Thursday, with worries over the security of Nigerian supplies lending support despite an unexpected expansion in US crude inventories.
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High-flying oil prices could set new records this week if rebels disrupt the flow of crude from Nigeria, and are unlikely to fall far even if tensions there ease given global supply strains, according to analysts.
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Oil prices rose slightly amid slow trading Tuesday in the aftermath of a U.S. holiday, with hopes that the inauguration of a new president in OPEC member Nigeria would bring a measure of stability to the market.
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Crude oil climbed back over $50 a  barrel on Thursday, with worries over the security of Nigerian  supplies supporting prices despite a surprise increase in U.S.  crude inventories.
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World oil prices are continuing to scale record heights, rising on concerns over disruptions to supply from strike-hit producers Nigeria and Norway.
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Crude oil futures briefly climbed back  over $50 a barrel on Thursday, with worries over the security  of Nigerian supplies supporting prices despite a surprise  increase in U.S. crude inventories.
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Nigeria&#39;s main oil workers union threatened to shut down the country&#39;s oil industry as a nationwide general strike entered its third day Wednesday, increasing concerns about supply from Africa&#39;s biggest crude producer.
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Another round of petrol price rises could be looming after crude oil prices hit the $US50 a barrel mark over the weekend. Oil prices are at their highest in more than 20 years due to supply concerns in Nigeria
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Nigeria wants OPEC to raise its price band to be more in line with market reality, the country's top oil official, Edmund Daukoro, said following similar calls by Libya and the United Arab Emirates.
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Oil's rally wavered on Thursday, but  worries over the security of Nigerian supply supported prices  despite an easier U.S. crude inventory picture and news that  Russia's YUKOS would resume full supply to China.
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Oil rose as Nigeria, the world top oil exporter, sees the call for a strike later this month. December crude oil lifted 24 cents to $52.
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NEW YORK, November 12  - Crude oil prices were volatile this morning, briefly rising on concerns regarding potential crude export disruptions in Nigeria due to a nationwide strike.
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Oil prices ended above $50 a barrel on Friday amid concern over possible fighting between rebels and the military in Nigeria&#39;s oil-rich delta region.
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A fresh attack on oil facilities in Nigeria and possible strike action by workers there sends oil prices above $70 a barrel.
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LONDON, England -- Oil prices have surged to historic levels as a threat of civil war in Nigeria adds to concerns over tight global supplies.
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Crude prices have hit record highs as Nigeria emerges as the new focus of worries about supply security on world oil markets. London Brent on the International Petroleum
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Oil prices raced to new highs above $50  on Tuesday as rebel threats against Nigerian oil facilities  threatened to inflict further strain on global supplies.