Crude Oil, Natural Gas Rise as Ivan Disrupts US Gulf Output
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Crude oil rose and natural gas soared in New York as the approach of Hurricane Ivan disrupted production and tanker shipments in the Gulf of Mexico, where a quarter of US oil and natural gas is pumped.
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WASHINGTON -- Oil prices shot up above $48 US per barrel yesterday after the US government reported that supplies shrank more than expected following production and shipping disruptions caused by hurricane Ivan.
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New York - Oil prices rose sharply Wednesday following the release of a US government report that said crude supplies fell by more than expected last week due to disruptions caused by Hurricane Ivan.
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Reports of damage to several oil facilities and more storms on the way raise crude prices. LONDON  - Crude prices climbed Friday as oil companies surveyed the damage wreaked by Hurricane Ivan after the storm pounded the key oil producing region.
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new yorkâCrude oil surged to a four-week high yesterday, bringing the gain this week to almost $3 (US) a barrel, on concern shutdowns caused by Hurricane Ivan will further reduce US inventories.
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NEW YORK - Oil and gas futures rose yesterday on expectations the hurricane season will intensify and OPEC won't raise output when it meets next week.
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World oil prices rose on Thursday as  Hurricane Ivan reached the U.S. Gulf Coast, having shut more  than 1 million barrels of daily output in the Gulf of Mexico  and 13 percent of refining capacity in the United States.
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Oil prices rose in early trading Wednesday after the government reported that supplies shrank more than expected following production and shipping disruptions caused by Hurricane Ivan.
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WASHINGTON - Oil prices rose Thursday despite reports that refineries along the Gulf Coast, as well as production platforms in the Gulf of Mexico, that had been shut down were slowly being restaffed, as Hurricane Ivan proved to be less disruptive than feared.   "We've really not heard of any refineries in that area reporting any problems," and several are already being restarted, said Tom Bentz, a trader at BNP Paribas Futures in New York...
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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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World oil prices rose on Thursday as  Hurricane Ivan reached the U.S. Gulf Coast, shutting more than  1 million barrels daily of output in the Gulf of Mexico and 13  percent of U.S. refining capacity.
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LONDON - Oil&#39;s record-breaking rally lifted US crude beyond $52 a barrel this week, fueled by the impact of Hurricane Ivan on US winter inventories.
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LONDON: Oil&#39;s record-breaking rally has taken US crude over $US52 a barrel, fuelled by the impact of Hurricane Ivan on US winter inventories.
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Crude oil prices rose to a record in New York and London after hurricanes in the Gulf of Mexico curbed US production for more than three weeks, slowing the accumulation of supplies to meet winter needs.
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Oil prices shot up more than $1 a barrel Monday as traders focused on the changing path of Hurricane Ivan, which prompted several large oil and natural gas producers to evacuate rigs in the Gulf of Mexico.
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World oil prices are on the rise, as Hurricane Ivan threatens to disrupt oil flow in the Gulf of Mexico.
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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.