Storm fears hold oil prices high
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Oil prices remain around the $82-a-barrel mark, over fears a storm may develop in the Gulf of Mexico.
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World oil prices raced to record highs on Thursday as news of a decline in heating oil inventories rattled traders in the run-up to the northern hemisphere winter.
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Oil prices steadied on Tuesday with concerns over gasoline supply in the United States keeping crude above the $70 mark even as fears eased that a cyclone in the Middle East would disrupt production.
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Oil prices held above $53 a barrel yesterday, setting a record, on lingering concerns about winter fuel supplies in the United States, operational snags in the Gulf of Mexico, and labor strife in petroleum-rich Nigeria.
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NEW YORK -- Hurricane Ivan held its grip on oil markets Tuesday as shutdowns of production platforms in the Gulf of Mexico and fears of storm damage drove crude and gasoline prices higher.
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Oil prices on Monday continued a  retreat from record highs after tropical storm Ingrid faded in  the Atlantic over the weekend, soothing fears it could hit Gulf  of Mexico crude production and refining.
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Oil jumped to a record high past $93 a barrel on Monday, as stormy weather disrupted supplies from giant exporter Mexico and the dollar wallowed near record lows.
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NEW YORK - A surge in oil prices and a disappointing report on retail sales kept stocks narrowly mixed in light trading Tuesday as many investors stayed on the sidelines.    With Hurricane Ivan threatening oil rigs in the Gulf of Mexico, crude futures moved higher for the second straight day, renewing investors' fears of a further drop-off in consumer spending due to higher gasoline prices...
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London oil prices hit record highs on Monday as worries about the stability of supplies from Iraq, Nigeria and Russia compounded concerns over low US fuel stocks ahead of winter.
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World oil prices rose on Tuesday as  Hurricane Ivan charged toward the oil-rich Gulf of Mexico,  where energy companies evacuated thousands of offshore workers  and halted some production.
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Crude oil prices surged to a record, exceeding $51 a barrel in New York for the first time, amid concern that hurricane damage to production platforms in the Gulf of Mexico will keep supplies from rising enough to meet winter needs.
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Oil prices moved back towards record highs tonight amid continued concerns over soaring demand and tight supplies.
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Oil prices hit a one-month high of $47 a barrel yesterday as traders worried that US petroleum inventories had drawn down heavily due to Hurricane Ivan.
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World crude prices rise amid fears that oil supplies from the Gulf of Mexico could be disrupted by Hurricane Ivan, and as saboteurs strike a pipeline in Iraq.
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Oil rose to an all-time high of $80.20 on Thursday after Hurricane Humberto forced the closure of some U.S. Gulf refiners and stoked concerns of fuel shortages this winter.
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CONTINUING concerns over possible supply disruptions and strong demand pushed prices of crude oil futures to historical highs yesterday.
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Oil prices held near record peaks on  Thursday after a larger-than-expected decline in heating fuels  in the United States heightened fears of a winter supply  crunch.