Nigeria fears push up oil
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NEW YORK -- Crude oil futures briefly climbed back over $50 a barrel yesterday, with worries over the security of Nigerian supplies supporting prices despite a surprise increase in US crude inventories.
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Oil prices pushed above &#36;49 a barrel on Monday, approaching record levels as worries about the stability of supplies from Iraq, Nigeria and Russia compounded concerns over low fuel stocks ahead of winter.
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Oil prices raced to new record highs above $50 on Tuesday, despite a pledge by OPEC producer Saudi Arabia to increase production, as rebel threats against Nigerian oil facilities threatened to inflict further strain on global supplies
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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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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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Crude prices have hit record highs as Nigeria emerges as the new focus of worries about supply security on world oil markets. London Brent on the International Petroleum
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By Andrew MItchell LONDON  - Oil prices raced to new record 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 edged up above $64 a barrel on   Wednesday as traders cautiously await the debate among members   of the U.N. nuclear watchdog over Iran's atomic work, and on   renewed concerns over disruptions to Nigerian supplies.
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Crude oil rose after the biggest labor organization in Nigeria, the fifth-largest crude-oil supplier to the US, called for a strike later this month that could end up disrupting the country&#39;s oil exports.
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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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An African-based investment analyst says further rises in global oil prices are likely, given the growing possibility of civil war in the world&#39;s sixth-largest oil producer, Nigeria.
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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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WASHINGTON -- Oil prices edged higher yesterday amid violence in Nigeria and concerns that OPEC may reduce output when it meets next week, but buying was kept in check by forecasts calling for warmer US weather next week.
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Oil prices ended above $50 a barrel amid concern over possible fighting between rebles and the military in Nigeria&#39;s oil-rich delta region.
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Oil prices rose to record highs Monday  near $50 a barrel for U.S. crude as Nigeria emerged as the  latest focus for worries about supply in an already tight  worldwide energy market.
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Oil prices surged to new record highs on  Monday near $50 for U.S. crude as Nigeria emerged as the latest  focus for worries about supply security on world energy  markets.
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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.