London oil drops to $40 a barrel
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The slide in crude oil prices takes a barrel in London down to little more than $40, as traders realise profits after the recent surge.
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Oil prices fell below $48 US a barrel Wednesday after the US government reported increases in the US supply of crude oil and distillate fuel, which includes heating oil.
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Oil prices fell to four-month lows on Friday even though the Organization of Petroleum Exporting Countries moved to curb production above its official 27 million barrel-per-day output ceiling.
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London Brent crude fell briefly through  $40 on Thursday for the first time in three weeks, extending  heavy losses to a fifth session as renewed exports from Iraq  and higher-than-expected U.S. gasoline inventories encouraged  big-money funds to take profits.
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By Malcolm Moore, Economics Correspondent (Filed: 12/10/2004). Striking oil workers in Nigeria and Norway yesterday drove the price of oil past the $50 a barrel threshold for the first time in London.
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LONDONâ OIL prices rebounded yesterday after falling sharply last week on receding supply worries, buoyed by jitters over this weekâs OPEC meeting and last weekendâs seizure of four flow stations in Rivers State, Nigeria by militant youths.
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After a month-long rally that repeatedly pushed oil prices to new highs, the cost of a barrel slumped for the fourth day in a row, dropping by nearly $2 to below $44.
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World oil prices have shot to record highs as concern grows about even more expensive fuel at the petrol pumps. In London, Brent North Sea crude oil for delivery in November surpassed $50 a barrel for the first time in the contract&#39;s 16-year history.
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U.S. oil prices slid more than half a  dollar to below $44 a barrel on Monday as unusually mild winter  weather in the United States curtailed demand.
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Light crude dips but remains less than a dollar shy of an all-time high reached earlier this week. LONDON  - Oil prices remained just below record highs on Friday amid concern over possible conflict
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New York - Oil prices continued to plummet on Thursday, falling almost five per cent to hit a 12-week low. On the New York Mercantile Exchange, the January contract for light sweet crude was down $2.24 US
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LONDON: Oil prices fell again on Tuesday, briefly taking US crude below $53 a barrel, on signs that energy costs are slowing the economic growth that drove this yearâs sharp increase in world fuel consumption.
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London oil prices fell briefly through $40 on Thursday for the first time in three weeks, extending four sessions of heavy losses made as renewed exports from Iraq and higher-than-expected US gasoline inventories encouraged big-money
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US crude climbed 40 cents to $43.50 a barrel, around $6 below a record peak struck last Friday at $49.40. London&#39;s Brent crude gained 42 cents to $40.
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Oil prices slipped below $69 a barrel yesterday after a report that a strike in Nigeria hasn't affected oil exports from Africa's largest crude producer alleviated the market's supply concerns.
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Oil prices fell to a four-week low yesterday, briefly dropping below $50 a barrel, as traders grew less concerned about possible threats to supplies.
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Crude oil prices fell for a fourthstraight day Friday, closing below 43 dollars per barrel for the first time in about three months.