Oil teases $51 a barrel as hurricanes hit output
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London - Oil prices roared to new record highs yesterday, within a whisker of $51 a barrel, on worries about supplies from the Gulf of Mexico, where almost 30 percent of production remains shut.
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WASHINGTON -- Oil prices inched closer to $50 a barrel yesterday even as the Bush administration offered to tap the nation's emergency stockpile of crude on behalf of refiners whose supply was disrupted by Hurricane Ivan.
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US crude leapt about $1.50-a-barrel yesterday as petroleum giants evacuated thousands of workers from the Gulf of Mexico ahead of Hurricane Ivan.
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Oil prices held close to $50 a barrel on  Wednesday ahead of weekly U.S. inventory data that is expected  to show a decline in crude stocks after Hurricane Ivan hit Gulf  of Mexico production.
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World oil prices rose on Tuesday as  Hurricane Ivan charged toward the oil-rich Gulf of Mexico,  where energy companies evacuated thousands of offshore workers  and halted some production.
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Crude oil futures traded near a record after rising above $51 a barrel yesterday on concern hurricane damage to production platforms in the Gulf of Mexico will keep supplies from rising enough to meet winter demand.
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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 prices extended record-setting highs  above $51 for U.S. crude on Wednesday, fueled by the impact of  Hurricane Ivan on U.S. winter inventories.
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Crude oil prices jumped above $51 a barrel yesterday, setting a fresh record amid a prolonged production shut-down in the Gulf of Mexico in the wake of Hurricane Ivan.
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Crude oil prices stay close to record levels at more than $51 a barrel, amid production problems in the Gulf of Mexico.
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Oil prices leaped above $51 a barrel  on Tuesday as a prolonged U.S. production outage following  Hurricane Ivan attracted fresh speculative buying.
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Oil futures prices surpassed $54 a barrel Tuesday on supply concerns in Nigeria and the Gulf of Mexico, where hurricane damage to pipelines and production platforms could curb output for months.
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WASHINGTON - Oil prices darted above $51 a barrel Tuesday as output in the Gulf of Mexico remains in shambles more than two weeks after Hurricane Ivan tore through the region.    Even as the advance in crude futures begins to appear unstoppable, with traders saying $55 a barrel seems possible, some analysts are convinced a speculative bubble has formed...
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World oil prices rose on Thursday as  Hurricane Ivan reached the U.S. Gulf Coast, shutting more than  1 million barrels daily of output in the Gulf of Mexico and 13  percent of U.S. refining capacity.
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Oil prices darted above $51 a barrel yesterday as output in the Gulf of Mexico remains in shambles more than two weeks after Hurricane Ivan tore through the region.
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Oil prices charged toward $50 a barrel Monday, and gasoline prices surged to $1.92 a gallon last week, as petroleum output in the Gulf of Mexico returns at a slower-than-expected rate after Hurricane Ivan and geopolitical unrest keeps traders on edge.
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Oil jumped $1 past $75 a barrel on  Tuesday as a top U.S. hurricane forecaster called for a busy  end to the Atlantic storm season, raising concerns over  potential oil and gas disruptions.