Bush to tap oil reserve to counter Ivan delays
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The Bush administration plans to release oil from the nation&#39;s emergency stockpile to make up for supply disruptions caused by Hurricane Ivan - the first time in nearly two years the reserve has been tapped.
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DALLAS (CBS.MW) -- Oil and gas production in the Gulf of Mexico remains off line and tankers continued to sit idle offshore Friday, raising questions about how much further the nation&#39;s crude inventories will be depleted following Hurricane Ivan.
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Oil prices were little changed on  Thursday as downside pressure from swelling international  supplies was balanced by concern that Hurricane Ivan could hit  offshore energy production in the Gulf of Mexico after tearing  through the Caribbean.
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NEW YORK, Sept 23  - Oil prices edged closer to record territory Thursday as markets shrugged off news that the US government may draw from its strategic reserves to make up for shortages due to Hurricane Ivan.
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Oil prices hugged &#36;50 a barrel on Wednesday on worries of potential supply disruptions and with U.S. crude inventories expected to fall due to the lingering effects of Hurricane Ivan.
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With oil near $50 a barrel, the Bush  administration said on Thursday it will negotiate with  refineries that want to borrow oil from the federal emergency  stockpile to offset supplies disrupted by Hurricane Ivan.
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The Bush administration announced Thursday it would provide US refineries with ``limited quantities&#39;&#39; of crude oil from the nation&#39;s emergency stockpile to help offset supply
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Shell and other oil companies sought loans from the US reserve after Hurricane Ivan disrupted oil imports and production. While the added supply from the Strategic Petroleum Reserve
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By Muklis Ali JAKARTA  - OPEC took the unprecedented step of urging the United States to tap its emergency crude reserves to bring down world oil prices.
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JAKARTA The Organization of Petroleum Exporting Countries has called on the United States to dip into its strategic petroleum reserve to help deflate oil prices, the cartel&#39;s president said Wednesday.
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The Energy Department will hold off purchases of oil for the government's emergency reserve through the upcoming winter, the department said Monday.
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President Bush is expected to seek emergency aid by next week to help the East recover from Hurricane Ivan, but it remains unclear how big the package will be.
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PENSACOLA, Fla. - President Bush scheduled a Sunday visit to hurricane-stricken Florida and Alabama - the third such visit for Florida - as many victims of Hurricane Ivan faced another day of digging through the debris of wrecked homes for their belongings and waiting hours in lines for food and water...
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DAYTON, Ohio  - The Bush administration said  Monday it is closely monitoring U.S. crude oil prices, which  traders said could soon top $50 a barrel on worries about  supplies.
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The Bush administration is set to approve requests from two refineries to borrow oil from the government&#39;s Strategic Petroleum Reserve to make up for supplies
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High-flying oil prices paused in their  ascent on Thursday as the U.S. government considered whether to  loan out crude from its strategic petroleum reserve after  Hurricane Ivan sliced into supplies.
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With oil prices close to &#36;50 a barrel, the Bush administration is set to allow oil refineries to borrow crude from the government's emergency petroleum stockpile to make up for supplies disrupted by Hurricane Ivan, a congressional source briefed on the pending decision told Reuters on Thursday.