Oil Hits Record Price Despite OPEC Move
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Oil hit nearly $79 a barrel today after OPECâs modest output increase failed to allay winter supply concerns and ahead of United States inventory data.
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Oil prices jumped to a new record high near &#36;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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VIENNA -- Consumers received no solace yesterday from OPEC, which said oil prices near $50 per barrel would remain high through the spring, even as the cartel decided to keep its production ceiling unchanged.
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Oil prices shot to an all-time high above $92 a barrel on Friday as the tumbling dollar and Nigerian output disruptions helped extend a rally that has lifted prices nearly 30 percent since August.
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TORONTO - Oil prices broke through another new record, passing the $54-per-barrel mark on Tuesday. On the New York Mercantile Exchange, the price for the November contract for light sweet crude stood at $54.
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VIENNA, Austria -- Oil prices rose above $62 a barrel Thursday as OPEC delegates said they had agreed in principle to leave production unchanged for now but set the stage for a likely cut of half a million barrels a day in February.
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Oil prices surge to fresh record highs in London, with Brent crude reaching the $50-a-barrel mark for the first time.
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Oil prices set a new record today on concerns over tight winter heating fuel supplies and news that a strike in Nigeria could put some crude exports on hold.
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Crude oil prices rose to a record high in London trading and hit near-record levels in New York on Monday. London&#39;s benchmark Brent crude oil hit a record of $46.
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Oil prices jumped more than 3 percent  on Tuesday to a one-month high of $99 a barrel as expectations  that OPEC will keep production tight spurred supply concerns.
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Oil hit a record high above $79 a barrel on Wednesday, propelled by an unexpectedly large drop in U.S. crude oil stocks that followed only a small output increase from OPEC ahead of peak winter demand.
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The price of crude oil reaches new record levels amid concerns about possible unrest in Venezuela and the threat of sabotage in Iraq.
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Oil prices struck a fresh record above  $48 a barrel on Thursday, spurred higher by renewed violence in  Iraq and fresh evidence that strong demand growth in China and  India has not been slowed yet by higher energy costs.
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Oil prices held strong Friday after a &#36;2, five percent surge higher as OPEC ministers weighed the timing of a possible further output cut for the spring.
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LONDON: World oil prices surged into new record territory above $50 a barrel Tuesday as traders took fright at a multitude of supply threats, including unrest in Nigeria and recent hurricanes.
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Oil hit a fresh record high of &#36;75.70 a  barrel on Friday after a U.S. government report showed strong  fuel demand in the world&#039;s top oil consumer.
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Oil prices struck a fresh record today on violence in Iraq and evidence that strong demand growth in China and India has not slowed due to higher energy costs.