Expectation of Storm Damage Again Bids Up Oil Futures
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Crude oil prices rose for a third day in four yesterday amid concern about the loss of production and possible damage from Hurricane Ivan, which passed just east of Gulf of Mexico production platforms.
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World oil prices shot higher on Monday  as companies operating in the Gulf of Mexico braced for output  disruptions from powerful Hurricane Ivan.
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Worries that Hurricane Ivan will hurt oil production in the Gulf of Mexico boosted oil prices Tuesday. In mid-morning New York trading, oil for future delivery hit $44.
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Oil surged above $70 on Monday on news a cyclone was headed towards the oil-producing Arabian peninsula with a potential to disrupt shipping and output.
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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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Opec is under pressure to lift official production levels at a critical meeting today as global crude prices rose again on the back of pipeline attacks in Iraq and hurricanes heading for the Gulf of Mexico.
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NEW YORK -- Oil and gas futures rose Tuesday on expectations the hurricane season will intensify and that OPEC won't boost production when it meets next week.
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Crude futures for September delivery traded in New York rose today to $49.40 a barrel, up 70 cents.
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new yorkâCrude oil futures rose to almost $50 (US) a barrel yesterday as platforms in the Gulf of Mexico pumped at below-normal rates two weeks after Hurricane Ivan.
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NEW YORK : The latest twists and turns from Hurricane Ivan prompted renewed concerns Monday about oil production in the Gulf of Mexico, pushing futures prices sharply higher on global markets.
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Crude futures surged above $52 a barrel yesterday as a possible strike by Nigerian oil workers loomed and petroleum output in the Gulf of Mexico continued to suffer more than two weeks after Hurricane Ivan whipped through the region.
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Crude oil futures rose Friday as markets remained wary about a possible strike by oil workers in Nigeria and potentially low heating oil supplies at the beginning of the Northern Hemisphere winter.
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Oil prices rose for the second day in  a row on Thursday with an Arctic blast forecast to hit the  United States next week, ramping up demand for heating fuels.
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World oil prices climbed on Monday as  companies operating in the U.S. Gulf of Mexico braced for  output disruptions from powerful Hurricane Ivan.
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Crude oil futures jumped above 51 dollars a barrel Tuesday amid concern that hurricane damage to production in the Gulf of Mexico would keep supplies from rising enough to meet winter needs.
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new yorkâCrude oil rose yesterday for a third day in four 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 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.