Oil Falls Below $49 on Nigeria Cease-Fire
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Oil prices slid from record highs above  $50 a barrel on Wednesday as the U.S. government reported a  surprise increase in crude stocks and rebels in Nigeria's  oil-rich delta region agreed a temporary cease-fire.
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Oil prices fell Thursday after moving close to US$49 a barrel as markets digested news of a rise in crude inventories but lower-than-expected US heating oil stocks.
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NEW YORK - Oil prices ended above the $50-a-barrel mark last week amid concern over possible conflict in Nigeria&#39;s oil-producing delta region, where a two-day truce between rebel militia and government forces is holding.
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Oil prices fall on news of Nigerian peace talks but analysts expect the price to remain close to the $50 mark.
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Oil prices tumbled below $47 on  Monday after OPEC producers agreed to keep crude output  unchanged for now and Iraq's elections passed without  disruption to oil exports.
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Oil prices ebbed on Monday after three days of gains as a major U.S. gasoline pipeline resumed pumping and some Nigerian militants called a one-month truce, although analysts saw little to suggest an end to 18 months of violence.
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NEW YORK: Oil prices pierced the $50-a-barrel mark again last night amid concern over possible conflict in Nigeria&#39;s oil-producing delta region, where a two-day truce between rebel militia and government forces is holding.
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Red-hot oil prices cooled, easing below 50 dollars a barrel in New York after news of stronger-than-expected US inventories and oil in the United States and diminishing fears of unrest in Nigeria.
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Oil prices plunged by more than $2 a barrel yesterday on hopes that the inauguration of a new president in OPEC member Nigeria would contribute to a stable supply from the Niger Delta region.
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Oil prices fell to four-month lows on Friday even though the Organization of Petroleum Exporting Countries moved to curb production above its official 27 million barrel-per-day output ceiling.
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Oil prices dipped below $46 on Tuesday in a third day of falls as a more optimistic Iraq export picture helped unwind some of the supply worries that have lifted the market to historic levels.
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Oil prices fell again Thursday as worries over supply disruptions eased. New York light sweet crude ended the day just over $43, and OPEC president Purnomo Yusgiantoro said the cartel hoped
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Oil eased below $63 a barrel on Monday as investors weighed plans by OPEC members Nigeria and Venezuela to trim output against healthy inventories in top consumer the United States.
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down unless the government began talks on autonomy and revenue for the oil-producing Niger Delta region. Militia leader Mujahid Dokubo-Asari agreed to a truce on Wednesday to allow talks to proceed.
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Oil prices made an about face Friday, falling below $48 a barrel, as tensions between U.S. forces and rebel fighters in Iraq eased, raising hopes that attacks against the country's oil infrastructure would subside.
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Oil prices ended above $50 a barrel amid concern over possible fighting between rebles and the military in Nigeria&#39;s oil-rich delta region.
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ABUJA/LONDON  - OPEC President Nigeria called on its fellow OPEC countries to make deeper output cuts on Tuesday as prices tumbled to an 8-month low below $59 a barrel and the tide showed no sign of turning.