Strike shakes crude oil costs
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Oil futures prices advanced to a new high Monday as a strike began in Africa&#39;s largest exporter of crude, exacerbating global supply concerns at a time of strong demand and reduced
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Crude oil futures surged to within striking range of $50 a barrel yesterday, though traders were split on where the market was headed next.
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The die is cast. Baring any last minute change of mind, organised labour and civil society groups will today commence a nationwide strike to protest the lastest hike in the prices of petroleum products.
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Crude oil in New York approached $70 a barrel for the first time since September after Nigerian unions planned a strike this week, threatening supplies from Africa's biggest oil producer.
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U.S. crude oil futures hit a record $100 a barrel on Wednesday, surging more than $4 as violence in OPEC members Nigeria and Algeria combined with a weak dollar and a cold snap to boost crude futures.
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The price of crude oil broke into new  record territory above $52 Thursday on heightened concerns that  supplies of heating fuels will prove inadequate during the  northern hemisphere winter.
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A fresh attack on oil facilities in Nigeria and possible strike action by workers there sends oil prices above $70 a barrel.
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THE cost of oil soared to a record $US49.64 a barrel today as unrest in Nigeria and Saudi Arabia alarmed traders. Oil futures jumped to their highest closing price on record on the New York Mercantile Exchange.
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Crude oil prices jumped above $51 a barrel yesterday, setting a fresh record amid a prolonged production shut-down in the Gulf of Mexico in the wake of Hurricane Ivan.
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: Crude oil futures fell today as workers in Norway conceded to Government demands to end a strike that could have threatened exports from the world&#39;s third-largest supplier.
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Crude oil futures moved to a new high Monday as oil workers joined a four-day national strike in Nigeria and some production shutdowns in the Gulf of Mexico could last as long as six months.
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A general strike over a rise in fuel prices brought much of Nigeria to a standstill on Wednesday but oil exports from Africa's top producer were initially unaffected.
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A four-day national strike has begun in Nigeria in protest at a 25% increase in the cost of oil. Oil executives in Nigeria said they were confident there would be no immediate disruption to exports.
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US oil prices have hit new highs on fears that a shipping strike in Norway could severely disrupt supplies from the world&#39;s third largest exporter.
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Crude futures surged above $52 a barrel yesterday as a possible strike by Nigerian oil workers loomed and petroleum output in the Gulf of Mexico continued to suffer more than two weeks after Hurricane Ivan whipped through the region.
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Nigerian unions Wednesday launched a potentially crippling general strike over a steep hike in petroleum prices in one of the world&#39;s foremost oil exporters.
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Nigerian unions began a four-day strike on Monday, helping drive world oil prices to record highs although shipments from Africa's top exporter were unaffected.