Oil Edges Up to $42 Ahead of Stock Data
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Oil prices edged higher for the second day on Wednesday, recovering from a week-long $5 slump ahead of US inventory data expected to show a slight draw in distillates, which include winter heating fuel.
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Oil prices have pushed above $49 a barrel, approaching record levels as worries about the stability of supplies from Iraq, Nigeria and Russia compound concerns over low fuel stocks ahead of winter.
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Bargain hunting is sending stock prices higher even as oil futures top 50 dollars per barrel. The Dow Jones Industrial Average is up 29 points in today&#39;s early going.
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Oil prices ticked higher on Tuesday,  holding above $42 a barrel as dealers awaited signs of any  renewed cold snap that would revive demand for winter heating  fuels in the United States.
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Oil prices climbed above $42 a barrel  on Wednesday, rising for the third day in a row as the heavy  consuming U.S. Northeast feels the first chills of winter.
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Crude oil futures rose Wednesday ahead of an extended weekend for traders, even though weekly government data showed rising domestic inventories of crude and distillate fuel, which includes heating oil.
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Stock index futures edged up on Friday before a government report that is expected to show 70,000 jobs were created last month, while oil prices hovering near $99 a barrel kept investors on edge.
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Oil prices clung near the $49 mark on  Tuesday, pausing from a 12 percent slide from record highs  ahead of key mid-week data on the health of winter fuel  stockpiles in the leading consumer, the United States.
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U.S. stocks barely moved above the  unchanged mark on Wednesday as crude oil prices touched a  record over $52 per barrel, boosting oil stocks.
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U.S. oil prices edged higher for the second day in a row on Tuesday amid calls within OPEC to crack down on excess output at this week's meeting.
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Oil prices eased again early on  Wednesday, hovering around $46 a barrel ahead of weekly U.S.  data expected to show fuel stocks rising in time for winter.
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Crude prices rose Wednesday ahead of US petroleum inventory data and an OPEC meeting this week at which the group could decide on a production cut.
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NEW YORK - Stocks clung to a slim advance Wednesday despite a new record high for oil as investors sifted through profit warnings and awaited the government's jobs creation report at the end of the week.    With rising energy costs threatening to dent consumer spending and corporate profits in the period ahead, oil and jobs have competed for the attention of traders on Wall Street...
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Crude stays above $45, $8 higher than at end of June, but analysts doubt prices will near $50 again. LONDON  - Oil prices rose modestly Wednesday as traders took stock after a three-day losing streak from record highs near $50 a barrel.
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Stock futures rose  on Wednesday,  pointing to a higher market open, before a slew of U.S.  economic data, as oil prices dipped lower ahead of weekly  inventory figures.
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U.S. stock futures pointed to a  higher market open on Wednesday, with oil dipping below $49 a  barrel and a batch of economic data on tap.
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U.S. oil prices hovered near &#36;47 a barrel on Wednesday, awaiting data that was expected to show a big drop in fuel stocks in the United States due to weather-related disruptions to output and shipments.