Oil prices charge toward $50 a barrel; gasoline prices surge
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Oil prices charged toward $50 a barrel Monday, and gasoline prices surged to $1.92 a gallon last week, as petroleum output in the Gulf of Mexico returns at a slower-than-expected rate after Hurricane Ivan and geopolitical unrest keeps traders on edge.
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Oil prices were hovering close to last weekâs record high today after breaking through the $50 mark again. Production problems in the Gulf of Mexico due to the impact of Hurricane Ivan continued to have
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By Malcolm Moore, Economics Correspondent (Filed: 21/08/2004). The price of oil came close to $50 a barrel in New York yesterday, as fighting between US forces and Moqtada al-Sadr&#39;s militia in Iraq continued to inflame the market.
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US crude climbed 40 cents to $43.50 a barrel, around $6 below a record peak struck last Friday at $49.40. London&#39;s Brent crude gained 42 cents to $40.
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WASHINGTON -- Oil prices inched closer to $50 a barrel yesterday even as the Bush administration offered to tap the nation's emergency stockpile of crude on behalf of refiners whose supply was disrupted by Hurricane Ivan.
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World oil prices ruptured fresh records on Tuesday, as US light crude punched through the $50 a barrel mark. US light crude leapt to $50.
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NORTH Sea Brent crude surged through $50-a-barrel for the first time yesterday, as a four-day general strike began in oil-rich Nigeria and the market fretted about out-of-action capacity in the Gulf of Mexico.
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Oil prices spiked up above $50 a barrel early Wednesday as signs of an electoral victory for President Bush raised the prospect of continued high US demand and Middle East supply anxiety.
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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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Oil prices hit fresh records on Monday,  pushing London Brent crude above $50 for the first time and  extending a relentless rise that has added around 65 percent to  the cost of crude this year.
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Oil prices vaulted back above $50 a  barrel on Tuesday as traders took out insurance ahead of weekly  U.S. data on Wednesday that is expected to show only a modest  increase in winter heating oil inventories.
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Crude oil prices pushed past the psychologically important 50 dollars per barrel mark today to an all-time high of 50.01 dollars as the market stayed bullish on a slow post-Hurricane Ivan recovery in the Gulf of Mexico.
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NEW YORK - The price of oil settled above $50 a barrel for the first time yesterday amid worries about tight supplies and production problems because of hurricanes in the Gulf of Mexico.
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OIL prices surged past $50 a barrel yesterday, driven to the historic high by the threat of an armed uprising in Nigeria against the government and multinationals.
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Oil prices raced to new record highs above $50 on Tuesday, despite a pledge by OPEC producer Saudi Arabia to increase production, as rebel threats against Nigerian oil facilities threatened to inflict further strain on global supplies
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The price of oil settled above $50 a barrel for the first time Friday amid concerns about tight supplies globally and hurricane-related production problems in the Gulf of Mexico.
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U.S. drivers could again face $2 a  gallon gasoline now that crude oil has topped a record $50 a  barrel, government experts said on Tuesday.