Oil Tops $49 On Renewed Iraq Violence
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Global oil prices raced to fresh highs on Friday, carrying US crude close to $49.16 a barrel up 46 cents, driven by escalating violence in Iraq and unabated demand growth from China and India.
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ARIS, Aug. 20  Oil prices hit a new record today after the Iraqi insurgency increased its pressure on the country&#39;s oil infrastructure and traders feared growing unrest might interrupt crude exports.
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Oil prices rose on Friday, stemming five days of heavy losses as fresh sabotage attacks on Iraqi oil infrastructure renewed concern over the country's supplies, despite a peace deal in Najaf
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Oil prices jumped to a new record  high near $47 on Monday with traders on tenterhooks for the  result of Venezuela's weekend referendum and Iraq's exports  again disrupted by a Shi'ite uprising in the south.
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Oil prices surged above $47 a barrel on  Wednesday on evidence that energy costs are not substantially  slowing the economic growth that fuels oil demand and new  reports of  rebel militia attacking Iraqi oil facilities.
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Oil prices held just below the $47 mark on Monday as Iraq resumed exports from both its northern and southern outlets after lengthy disruption, despite fierce fighting in the holy city of Najaf.
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By Malcolm Moore, Economics Correspondent (Filed: 27/08/2004). The price of oil continued to fall yesterday but a fresh attack on Iraqi pipelines kept it above $40 a barrel.
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Oil prices surged over $47 a barrel on  Wednesday on evidence that energy costs are not substantially  slowing the economic growth that fuels oil demand and fresh  threats by rebel militia against Iraqi oil facilities.
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Oil prices have pushed above $49 a barrel, approaching record levels as worries about the stability of supplies from Iraq, Nigeria and Russia compound concerns over low fuel stocks ahead of winter.
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Oil prices held just below the $47 mark  on Monday as Iraq resumed exports from both its northern and  southern outlets after lengthy disruption, despite fierce  fighting in the holy city of Najaf.
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Oil prices have raced to fresh highs, carrying US crude over $49 a barrel, driven by escalating violence in Iraq and unabated fuel demand growth from China and India.
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NYMEX crude oil futures struck another record at &#36;48.90 a barrel on Friday before the prompt-month expiry, as surging violence in Iraq sparked fresh concerns over supply disruptions.
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US oil prices rose on Monday as Iraq&#39;s oil exports continued at more than 30 percent below normal after sabotage attacks on pipelines.
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Crude oil rose to a record $49.74 a barrel in New York amid concern rebel attacks in Nigeria will reduce production and US refiners will struggle to replenish supplies disrupted by Hurricane Ivan.
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Oil prices edged higher on Thursday  from a heavy drop the day before as renewed violence and  sabotage attacks in Iraq revived fears over supply disruptions.
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U.S. oil prices climbed above $43 on  Monday as energy companies operating in the Gulf of Mexico  braced for possible widespread output disruptions from a  powerful hurricane and Iraq saw some of the bloodiest violence  in weeks.
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Global oil prices raced 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.