Storm concerns lift oil prices
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Crude oil rose for a second day on concern about the loss of production and possible damage from Hurricane Ivan, which passed just east of most Gulf of Mexico production platforms.
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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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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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NEW YORK -- Oil prices surged yesterday on fears of hurricane damage and lower-than-expected crude oil and gasoline inventory data released by the government.
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SINGAPORE : Oil prices climbed higher in Asian trading on Monday as fresh concerns over possibile energy shortages during the northern hemisphere winter sparked another wave of panic buying among investors, dealers said.
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NEW YORK -- Oil prices rose above $70 a barrel yesterday, as persistently high fuel demand and concerns about possible supply disruptions in the Middle East and Nigeria offset news of increasing US inventories.
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Oil prices rose toward $61 a barrel yesterday on concerns about winter weather, a December OPEC meeting, and violence in Iraq.
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Oil prices rose Monday as a gas leak  closed a large Norwegian North Sea oil field and the threat of  a colder-than-normal U.S. winter fueled worries about low  heating oil stocks.
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World oil prices surged almost a dollar  on Friday on worries that the ongoing storm season in the U.S.  Gulf would continue to hamper energy production and imports,  delaying vital pre-winter stock building.
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NEW YORK - The price of oil settled above $50 a barrel for the first time yesterday amid worries about tight supplies and production problems because of hurricanes in the Gulf of Mexico.
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World oil prices rose on Friday on  worries that the ongoing storm season in the U.S. Gulf would  continue to hamper energy production and imports, delaying  vital pre-winter stock building.
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LONDON  - Oil prices rose over worries about a possible supply shortage of US heating oil stocks during the northern hemisphere winter.
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World oil prices rose on Thursday as Hurricane Ivan reached the U.S. Gulf Coast, having shut more than 1 million barrels of daily output in the Gulf of Mexico and 13 percent of refining capacity in the United States.
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Rallying oil prices climbed to within  a dollar of $50 a barrel early on Monday as a blizzard  enveloped the U.S. Northeast, boosting demand for heating oil.
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Oil prices climbed higher in Asian trade today as fresh concerns over the possibility of energy shortages in the northern hemisphere winter sparked another wave of panic among investors, dealers said.
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Hurricane Ivan, with winds near 140 mph, pushed oil prices higher today as it moved through the Gulf of Mexico on a path that may bring it ashore between Louisiana and Florida by Thursday.
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World oil prices surged nearly $2 on  Friday on worries the stormy season in the Gulf of Mexico would  continue to hamper energy production and imports, delaying  vital stock building ahead of the coming winter months.