Oil Ends Below $50 on Nigerian Ceasefire
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Oil prices slid from record highs  above $50 a barrel Wednesday as the U.S. government reported a  surprise increase in crude stocks and rebels in Nigeria's  oil-rich delta region agreed to a preliminary cease-fire with  the government.
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Oil  prices ease after hitting $100 a barrel as the weak dollar and violence in Nigeria and Algeria boost prices.
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Oil prices slid from record highs above  $50 a barrel on Wednesday as the U.S. government reported a  surprise increase in crude stocks and rebels in Nigeria's  oil-rich delta region agreed a temporary cease-fire.
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Crude oil in New York traded near a record after exceeding $50 a barrel yesterday on threats to Nigeria&#39;s oil output and as US production remains lower than normal because of damage from Hurricane Ivan.
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Oil prices remained just below record  highs on Friday amid concern over possible conflict in  Nigeria's oil-producing delta region, where a two-day truce  between rebel militia and government forces is holding.
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Oil prices raced to new highs above $50  on Tuesday as rebel threats against Nigerian oil facilities  threatened to inflict further strain on global supplies.
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Oil prices rose to record highs Monday near $50 a barrel for US crude as Nigeria emerged as the latest focus for worries about supply in an already tight worldwide energy market.
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Nigerian militants in the oil-rich Delta end a voluntary ceasefire saying talks with the government have failed.
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Oil prices closed lower in New York trading on Wednesday for the first time in two weeks, down 39 US cents at $US49.51 a barrel, as concerns about Nigerian crude output eased and US oil inventories rose.
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US oil prices reached a record $50 a barrel on Monday as Nigeria emerged as the latest focus for worries about supply in an already tight worldwide energy market.
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Oil prices ebbed on Monday after three days of gains as a major U.S. gasoline pipeline resumed pumping and some Nigerian militants called a one-month truce, although analysts saw little to suggest an end to 18 months of violence.
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Oil fell a dollar on Monday after Nigerian oil unions at the weekend suspended a two-day strike that had threatened to halt oil shipments from the world's eighth-largest oil exporter.
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Oil prices fell in light trading yesterday , eased by the end of a Nigerian oil workers' strike over the weekend.
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High-flying oil climbed back toward $50  a barrel on Thursday, with worries over the security of  Nigerian supply supporting prices despite a surprise build in  U.S. crude inventories.
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The price of crude oil ends above $50 a barrel for the first time in 21 years of trade on New York's Nymex exchange.
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Oil prices ended above the  $50-a-barrel mark on Friday amid concern over possible conflict  in Nigeria's oil-producing delta region, where a two-day truce  between rebel militia and government forces is holding.
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Oil prices eased on Monday after rebels  in Nigeria withdrew a threat to target oil operations, but  lingering concerns over stretched supplies ahead of winter kept  prices close to $50.