Prices for crude drop despite unrest in Nigeria
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Oil prices retreated from highs reached last week due to balmy weather in the United States, but stayed above $62 a barrel yesterday as blasts tore through two oil company facilities in southern Nigeria.
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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.
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Oil fell over a dollar on Monday after Nigerian oil unions at the weekend suspended a two-day strike that had threatened to halt oil shipments from the world's eighth-largest oil exporter.
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Oil prices steadied on Tuesday after  steep losses as concern faded over potential supply shortfalls  ahead of winter and Nigerian unions called off a strike that  could have disrupted exports.
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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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Crude oil prices in New York remained high Tuesday after Nigerian rebels threatened oil output in the largest African oil-producing country.
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Oil prices fell on Monday after a Nigerian oil union strike that had threatened to further curtail shipments was suspended at the weekend, although the start of the U.S. summer driving season limited losses.
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NEW YORK - Oil prices closed above $50 a barrel for the first time in New York trading Friday, as traders fretted about Nigerian oil production amid a threatened rebel uprising.
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ISN SECURITY WATCH (30/09/04) - The worldâs oil markets remained jittery this week after spot prices for crude reached historic highs, and the announcement of a truce between Nigerian rebels and government forces was not enough to convince traders
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Oil prices pierced the $50-a-barrel mark again today amid concern over possible conflict in Nigeria's oil-producing delta region.
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The price of oil slid toward $42 a barrel yesterday despite confusion about the status of Iraqi exports, indicating the market has become less worried about the global balance of supply and demand.
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Oil prices fell on Friday as traders   questioned whether planned output cuts by OPEC members Nigeria   and Venezuela would be enough to stem a two-month slide in   prices.
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Crude oil climbed back over $50 a barrel on Thursday, with worries over the security of Nigerian supplies supporting prices despite a surprise increase in U.S. crude inventories.
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Oil prices slid from record highs  above $50 a barrel Wednesday as the U.S. government reported a  surprise increase in crude stocks and rebels in Nigeria's  oil-rich delta region agreed to a preliminary cease-fire with  the government.
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Nigerian stock prices dropped 0.4 percent last week as the index closed at 52,264.11 points from 52,452.49 the previous week, brokers said Sunday.
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Crude oil climbed back over $50 a  barrel on Thursday, with worries over the security of Nigerian  supplies supporting prices despite a surprise increase in U.S.  crude inventories.
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LONDON : Oil prices resumed their march towards 50 dollars in New York as peace talks in major producer Nigeria and an unexpected rise in US crude inventories failed to ease traders&#39; fears about supply.