Oil: Price surges 3 per cent as US heating stocks fall
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NEW YORK - Oil prices recovered from seven-week lows on Wednesday, surging more than 3 per cent as a drawdown in US heating fuel stocks rekindled worries about thin supplies ahead of the northern winter.
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Oil futures prices bolted 5 percent higher yesterday, climbing above $44 a barrel after US government data showed a slight decline in crude and heating oil supplies
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Oil prices hit a new three-month low on Wednesday as mild winter weather in the United States and expectations of a rise in heating fuel stocks kept downward pressure on the market.
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American stocks fell to three-week lows yesterday after oil prices jumped more than $1.50 to above $48 a barrel. Oil was forced up after the release of figures showing a sharper-than-expected fall in weekly
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Oil surged $1, toward $60, on Tuesday on expectations the coldest weather of the U.S. winter would cut heating oil stocks in the world's top energy consumer.
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Oil prices flew back above $54 a barrel on Wednesday as a fresh fall in US heating oil stocks stoked worries over winter supplies.
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Oil prices jumped nearly 2 percent on Tuesday as colder weather in the United States, the world&#39;s largest heating oil market, brought temperatures more in line with seasonal norms.
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Oil prices surged 5 percent on Friday as frigid weather lingered in the mammoth US Northeast heating oil market and militant Osama bin Laden urged renewed attacks on Middle East oil installations.
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Oil prices jumped from a four-month low on Wednesday as slow growth in US heating fuel inventories heightened fears for tight winter supplies.
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Oil prices blasted higher yesterday, surging above $44 a barrel after government data showed a slight decline in crude and heating oil supplies as a Northeast cold snap drove up fuel demand.
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Oil prices climbed back above $59 a barrel on Wednesday ahead of an expected sharp fall in weekly U.S. distillate stocks as a blast of cold weather boosted heating fuel demand in the world's top consumer.
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LONDON  - Oil prices rose over worries about a possible supply shortage of US heating oil stocks during the northern hemisphere winter.
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Oil prices climbed back above $59 a barrel on Wednesday ahead of an expected sharp fall in U.S. heating oil stocks as a blast of cold weather boosted demand in the world's top consumer.
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US oil prices rose slightly on Wednesday, halting a three-day losing streak, although the market was expected to retreat further as concerns over a major supply disruption ease.
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Oil prices surged nearly 6 percent on  Wednesday as the U.S. government reported a fall in heating oil  stocks in the midst of the season's first arctic cold blast in  the Northeast.
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WASHINGTON -- Crude oil futures surged more than $1 US a barrel yesterday after the US government reported that America&#39;s supply of distillate fuel, which includes heating oil, shrank for the eighth consecutive week.
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Oil prices surged nearly $2 a barrel yesterday following two bombings in the capital of Saudi Arabia and after the US government reported that winter fuel supplies shrank last week.