Oil Rises, Nears Record Above $50 as US Production Curbed
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Crude oil surpassed $50 a barrel and was close to a record in New York as US production in the Gulf of Mexico took longer than expected to recover, slowing the buildup of inventories to meet winter needs.
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LONDON : Oil prices raced ahead to new record high levels in London and approached 50 dollars in New York as unrest in oil producers Nigeria and Saudi Arabia stoked supply worries, traders said.
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PARIS Oil prices rose to a record Monday but shied away from the $50-a-barrel mark, as traders expressed concerns that hurricanes had hurt output in the United States while commercial supplies remained low.
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Oil prices surged to new record highs on Monday near $50 for US crude as Nigeria emerged as the latest focus for worries about supply security on world energy markets.
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Crude oil futures hit $US50 in electronic after-hours trade in New York, setting a new record as supply worries intensified. In regular trading the November benchmark contract for light sweet crude on the
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NEW YORK - Oil prices raced to new record highs above US$50 on Tuesday as rebel threats against Nigerian oil facilities threatened to inflict further strain on global supplies.
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U.S. crude oil futures hit a new  record on Tuesday at $50.01 a barrel as worries about the  stability of supplies from Iraq, Nigeria and Russia compounded  concerns over low fuel stocks ahead of peak winter demand.
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Crude oil in New York traded near a record after exceeding $50 a barrel yesterday on threats to Nigeria&#39;s oil output and as US production remains lower than normal because of damage from Hurricane Ivan.
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Crude oil in New York rose to a record $53.80 a barrel after the US said some production shutdowns in the Gulf of Mexico caused by Hurricane Ivan may last as long as six months.
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Oil prices hit a new record near $51 a  barrel on Tuesday as a prolonged U.S. production outage  following Hurricane Ivan attracted fresh speculative buying.
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Crude oil prices surged past the $50 per barrel milestone in overnight trading in response to the triple threat of turmoil in the oil-rich countries of Nigeria and Iraq and a decline in production in the hurricane-battered Gulf of Mexico.
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Oil's record-breaking rally lifted U.S.  crude beyond $52 a barrel on Wednesday, fueled by the impact of  Hurricane Ivan on U.S. winter inventories.
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US crude prices on the New York Mercantile Exchange have hit fresh record highs, hitting $49.45 a barrel, up more than 50 percent from the start of the year.
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Crude oil prices set fresh records as  US light crude tops $50 a barrel in Asian trade and Brent sticks close to $46.
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LONDON - Crude oil topped the psychological milestone of $50 per barrel Tuesday for the first time, and a Saudi Arabian oil official said the world's largest petroleum exporter would raise its production capacity by 15 percent in a bid to calm prices.    Analysts said instability in the Middle East, political unrest in Nigeria, Africa's top oil exporter, and damage to U.S...
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Crude oil topped $50 per barrel during Asian trading today, pushing past the psychological milestone for the first time then surging further to new record levels likely to unsettle oil-consuming nations.
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Oil prices soared to a new record above $50 yesterday as uncertainties over Nigerian output heightened worries of a severe supply disruption ahead of winter.