Oil Prices Surge Briefly Above $54 a Barrel
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The International Energy Agency said that higher petroleum prices would hurt economic growth around the world next year.
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Crude oil prices surged past an unprecedented US$55 per barrel yesterday as uncertainty swirls over production, high demand and tight global supplies ahead of the Northern Hemisphere winter.
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Crude oil surged to a four-week high, bringing the gain this week to almost $3 a barrel, on concern that shutdowns caused by Hurricane Ivan would further reduce inventories.
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Oil climbed towards $94 a barrel on Thursday, supported by a smaller-than-expected rise in U.S. crude stocks as imports slowed and refiners revved up.
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Crude oil prices surged past an unprecedented $55 per barrel Monday as uncertainty swirls over production, high demand and tight global supplies.
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Crude oil prices briefly rose above 55 dollars a barrel today, as traders continue to worry about supply ahead of winter. Crude for November delivery hit 55 dollars, 33 cents
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after briefly surpassing $54 a barrel for the first time â-n speculation that demand doesnât justify further price increases. Also
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Oil prices have fallen sharply after briefly surpassing $54 a barrel amid nagging concerns in the market that the global supply buffer is too thin to handle a significant output disruption.
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Singapore - Crude oil prices surged past an unprecedented $55 per barrel Monday, driven by uncertainty over production, high demand and tight global supplies ahead of the Northern Hemisphere winter.
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Oil prices jumped to record highs  above $54 on Tuesday as supply hitches hindered efforts to  build winter heating fuel inventories. They later shed over a  $1 a barrel as traders took profits from the surge.
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US oil prices are holding above $54 a barrel in electronic trade in Asia Thursday after a larger-than-expected decline in heating fuels in the United States heightened fears of a winter supply crunch.
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Oil prices climbed again Friday, closing above $55 a barrel for the first time on conercns of domestic shortages in the upcoming winter.
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Crude oil prices climbed back to the $54 US level Wednesday, reversing a two-day slide, after the US government&#39;s weekly petroleum supply report showed a fifth straight week of declining inventories of distillate fuel, which includes heating
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Oil prices surged to yet new record highs Tuesday, driving U.S. crude above $54 as global supply outages thwart efforts to build winter heating fuel inventories.
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Crude oil broke through the record $54 (US) a barrel level briefly before falling sharply yesterday as no new shocks threatened to disrupt global supplies and traders took profits.
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The price of crude oil surged past $55 per barrel Monday on lingering supply fears in trading in Asia.
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Oil edged above $58 a barrel on Thursday in volatile trade that has trapped prices in a narrow range.