Oil Back Up to $55 on US Winter Stocks
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LONDON - Oil prices charged back up to $55 a barrel this week as a fresh fall in US heating oil stocks stoked worries over winter supplies.
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Oil prices held firm above $55 a  barrel on Wednesday as traders braced for the start of the  northern winter with thin heating oil supplies.
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Oil stood above $60 on Tuesday after forecasts of a cold spell in the U.S. Northeast buoyed heating oil, and as a weaker dollar and a Saudi warning of possible new output curbs bolstered the market.
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Oil prices rallied to a record above  $55 a barrel Monday on concerns over a winter fuel supply  crunch, and as traders took comments from a top U.S. official  to mean high prices have yet to really dent U.S. demand.
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World oil prices marched towards 55 dollars today on worries about low stocks of US heating fuel and tight crude supplies amid strong demand in key markets ahead of the northern hemisphere winter.
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Oil prices rebounded to $54 a barrel  on Thursday ahead of U.S. inventory data expected to show tight  heating fuel stocks ahead of winter.
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WASHINGTON -- Oil futures prices surged to new heights above $55 US a barrel yesterday as concerns about the global supply of heating oil persist ahead of winter.
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Oil prices climbed back above $59 a  barrel on Wednesday ahead of an expected sharp fall in weekly  U.S. distillate stocks as a blast of cold weather boosted  heating fuel demand in the world's top consumer.
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Crude oil futures rose above 55 dollars a barrel Friday as concerns about the global supply of heating oil persisted ahead of winter in the Northern Hemisphere.
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Oil prices jumped a dollar on Thursday  after the U.S. government said crude stocks fell to a fresh  five-month low last week and distillate fuel inventories barely  grew ahead of winter.
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Oil surged $1, toward $60, on Tuesday on expectations the coldest weather of the U.S. winter would cut heating oil stocks in the world's top energy consumer.
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Oil prices perked up from 7-week lows on Friday on forecasts for colder-than-normal weather in the U.S. Northeast.
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Oil prices recouped light losses on Tuesday, climbing above $59 a barrel as the coldest weather of the U.S. winter was expected to draw down distillate stocks.
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Oil prices rose a dollar on Friday as  worries a cold spell in the United States could erode already  depleted winter fuel inventories spurred the market higher.
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Oil prices broke above $55 a barrel on Tuesday as concern lingered over thin world heating oil supplies ahead of the northern winter.
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Oil futures prices have jumped 5 percent higher, climbing above $44 a barrel in the United States Wednesday after US government data showed a slight decline in crude and heating oil supplies as colder weather in the Northeast drove up
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Oil prices have surged past a record $55 per a barrel in Asian trade, amid concerns over winter fuel supplies. The price of crude for November delivery on the New York Mercantile Exchange hit $55.