Crude oil futures fall to US$46 per barrel after moving above $47
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Crude oil futures fell Tuesday after moving above $47 US a barrel in intraday trading. December delivery crude on the New York Mercantile Exchange dropped 76 cents to $46.11 per barrel.
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Oil prices climbed above $47 a barrel today, after figures showed supplies in the U.S. were down for a third consecutive week.
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US oil prices held above $46 a barrel on Tuesday on worries of a major supply disruption at a time when producers are pumping at full tilt to meet strong demand.
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Oil prices fell sharply yesterday after briefly passing $54 a barrel amid nagging concerns in the market that the global supply buffer is too thin to handle a significant output disruption.
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Crude oil futures tumbled below $48 a barrel yesterday, closing at their lowest level in seven weeks, on rising expectations that the US supply of transport and home-heating fuels will be adequate this winter.
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U.S. oil futures set a new record $47.01  a barrel on Wednesday after a new threat against Iraq's oil  sector by rebel Shi'ite militia.  U.S. crude traded up 26 cents  to set a new high in the 21-year history of the New York  Mercantile Exchange contract.
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Crude oil closed above 50 dollars per barrel Friday for the first time as traders worry below-normal US crude inventories could not meet the soaring demand in the upcoming months.
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Crude oil prices are back above the $47 a barrel mark after an energy market watchdog raised its forecasts for global demand.
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SAN FRANCISCO (CBS.MW) -- Crude futures closed under $46 a barrel Wednesday for the first time since late September and heating-oil and unleaded gasoline prices dropped more than 6 percent following an across-the-board climb in US petroleum inventories.
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Crude oil futures moved upward past US$47 Tuesday, reflecting concern about tight distillate supplies despite expectations that a winter supply crisis will be averted.
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LONDON : Crude oil prices slipped below 46 dollars a barrel on increasing hopes of adequate heating fuel supply during the northern hemisphere winter.
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Crude futures prices surged above $48 per barrel Wednesday as oil production and shipping disruptions caused by Hurricane Ivan caused domestic supplies to shrink more than expected.
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Crude oil futures closed below 48 dollars a barrel Tuesday, the lowest level in seven weeks amid rising expectations about US oil supply for this winter.
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NYMEX crude oil futures were down  slightly at just under $46 a barrel on Tuesday but traders said  prices were likely to resume their rise later in the week if  U.S. inventories fall as expected.
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SINGAPORE: Oil prices extended losses to fall below $46 Wednesday ahead of weekly US data expected to show fuel stocks rising in time for peak winter demand.
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Oil prices fell to seven-week lows near $47 a barrel on Wednesday as traders braced for another increase in US oil and gas inventories.
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CRUDE oil futures eased below $US46 a barrel in Asia today as traders awaited the weekly US crude inventory report, which has helped bring down prices in recent weeks by showing a recovery in supplies.