Oil prices rise as Atlantic storm threat develops
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World oil prices climbed Friday as a storm threatened Gulf of Mexico energy installations ahead of a long holiday weekend in the United States, while US stockpiles remained tight.
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LONDON : Oil prices bolted higher on fears of disruption to production and import activity in the Gulf of Mexico because of Hurricane Ivan, traders said.
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Oil rose above $61 on Wednesday, pushed higher by expectations colder weather in the U.S. Northeast would boost demand in the world's top heating oil market.
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Oil prices rose in early trading Wednesday after the government reported that supplies shrank more than expected following production and shipping disruptions caused by Hurricane Ivan.
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Reports of damage to several oil facilities and more storms on the way raise crude prices. LONDON  - Crude prices climbed Friday as oil companies surveyed the damage wreaked by Hurricane Ivan after the storm pounded the key oil producing region.
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Hurricane Ivan spared the critical Gulf Coast refining belt, but oil prices rose anyway Thursday on fears a new storm brewing in the Caribbean will delay tankers carrying imported crude to US ports.
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World oil prices rose on Friday,  boosted by production stoppages due to a severe hurricane in  the Gulf of Mexico and worries that another storm might further  delay imports into the United States.
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Oil prices jumped more than a dollar,  climbing above $48 a barrel on Wednesday after U.S. data showed  the disruption caused by Hurricane Ivan had eaten into fuel  stocks.
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NEW YORK - Oil and gas futures rose yesterday on expectations the hurricane season will intensify and OPEC won't raise output when it meets next week.
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Business & money: Violent storms in the North Sea helped push global oil prices to new highs of just under $100 per barrel.
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OIL futures prices rose in Europe today amid concerns about heating oil supplies at the beginning of the Northern Hemisphere winter.
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World oil prices rose on Thursday as  Hurricane Ivan reached the U.S. Gulf Coast, having shut more  than 1 million barrels of daily output in the Gulf of Mexico  and 13 percent of refining capacity in the United States.
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Crude oil prices rose to a record in New York and London after hurricanes in the Gulf of Mexico curbed US production for more than three weeks, slowing the accumulation of supplies to meet winter needs.
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Oil prices hit new highs on both sides of the Atlantic this morning as a threat by Norwegian shipowners to halt production from the world&#39;s third biggest exporter fuelled fears of a winter supply crunch.
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NEW YORK -- Oil prices surged yesterday on fears of hurricane damage and lower-than-expected crude oil and gasoline inventory data released by the government.
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World oil prices surged a dollar on  Friday on worries that the ongoing storm season in the U.S.  Gulf would continue to hamper energy production and imports,  delaying vital pre-winter stock building.
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Oil futures prices rose in Europe on Friday amid concerns about heating oil supplies at the beginning of the Northern Hemisphere winter.