Update 5: Oil Prices Climb Despite Gov&#39;t Statement
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Oil prices inched closer to $50 a barrel Thursday even as the Bush administration considered tapping the nation&#39;s emergency stockpile of crude on behalf of refiners whose supply was disrupted by Hurricane Ivan.
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Oil prices ticked up in Asian trading but remained below the 47-dollars a barrel level amid expectations of a further easing of supplies in the coming weeks, dealers said.
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Oil prices rose for a second day on Wednesday after blasts were heard in Saudi Arabia&#39;s capital and after the US government reported another decline in lean winter heating fuel stocks.
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Oil prices spiked up above $51 a barrel on Wednesday as increasing signs of an electoral victory for US President George W. Bush raised the prospect of continued
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Crude oil prices have dipped after the government said energy supplies have risen over the past week. It reveals surprising increases in the nation&#39;s supply of oil and distillate fuel, which includes heating oil and diesel.
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Oil futures prices bolted 5 percent higher yesterday, 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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U.S. crude prices rose to another new record on Thursday, rising 25 cents to &#36;47.52 a barrel on evidence that high prices are not hurting world oil demand growth.
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Crude oil prices surged again Wednesday, rising above $47 a barrel amid lingering concerns in supply from Iraq and Russia.
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LONDON - Oil prices rose for the second day in a row on Thursday as several Opec ministers called for the cartel to stop producing more oil than its official target to prevent a glut next year.
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Oil prices rose on Tuesday but  retreated from an earlier break above $50, as dealers awaited a  U.S. government report that is expected to show a small  increase in thin heating oil stocks ahead of winter.
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Oil prices climbed to within a dollar  of a new record on Wednesday after the U.S. government reported  a big decline in oil stockpiles because of disruptions from  Hurricane Ivan.
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Oil prices rose for the second day in a row on Thursday as several OPEC ministers called for the cartel to stop producing more oil than its official target.
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Oil prices rose for the second day in a  row on Thursday as several OPEC ministers called for the cartel  to stop producing more oil than its official target.
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NEW YORK - Oil prices continued climbing on Wednesday as supply concerns lingered and a weekly report showed US crude inventories were smaller than expected.
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NEW YORK -- Oil prices rose above $70 a barrel yesterday, as persistently high fuel demand and concerns about possible supply disruptions in the Middle East and Nigeria offset news of increasing US inventories.
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The average price of a gallon of gasoline in the United States rose slightly over the past three weeks and could push higher because much of a rise in crude oil has not been passed on to consumers, an industry analyst said on Sunday.
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Oil prices swung higher last night, edging closer to record highs hit earlier this week, as traders remained cautious about the situation in Nigeria and US supplies ahead of the heating oil season.