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 futures prices briefly topped $55 US a barrel Wednesday after a report showed American supplies of distillate fuel, which includes heating oil and diesel, shrank for a fifth straight week, heightening fears of a winter-fuels crunch.
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Washington: Oil futures prices bolted 5 per cent higher, climbing above $44 a barrel after US government data showed a slight decline in crude and heating oil supplies as colder weather in the Northeast drove up fuel demand.
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Oil prices made fresh gains above $55 a barrel led by record-breaking heating oil prices amid fears of winter supply shortages across America.
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Oil prices rose again on Wednesday after US government data showed heating stocks ahead of winter remained 16% down on 2003 levels.
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Oil prices bounced back on Friday, ending this week&#39;s 8 per cent slide on renewed winter supply fears and jitters ahead of next week&#39;s US presidential election.
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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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NEW YORK - Oil prices jumped nearly two dollars on Thursday after the US 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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Crude oil prices briefly rose above 55 dollars a barrel today, as traders continue to worry about supply ahead of winter. Crude for November delivery hit 55 dollars, 33 cents
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Oil climbed back towards its new $90 peak on Friday, supported by tight fuel stocks ahead of winter and a softening dollar.
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Oil prices have rebounded from seven-week lows as US heating oil stocks fell for an eighth straight week ahead of winter. US light crude was up 58 cents at $47.
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Oil prices climbed back above $59 a barrel on Wednesday ahead of an expected sharp fall in U.S. heating oil stocks as a blast of cold weather boosted demand in the world's top consumer.
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Oil futures prices briefly topped $55 a barrel yesterday after a report showed US supplies of distillate fuel, which includes heating oil and diesel, shrank for a fifth straight week, heightening fears of a winter-fuels crunch.
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LONDON : World oil prices rose to fresh high points above 55 dollars a barrel on markets worried about low supplies of crude amid strong demand with winter fast approaching in the northern hemisphere.
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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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Oil prices held firm above $41 a barrel  on Tuesday as colder weather in the U.S. brought temperatures  more into line with seasonal norms, spurring heating oil  buying.
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Oil prices simmered near $55 a barrel  on Friday on rising fears of a winter fuel supply crunch and  robust but slowing economic growth in China, the world's number  two oil user.