Oil down on fading Humberto
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Oil eased from its record high on Friday as a hurricane subsided in the Gulf of Mexico and refineries looked set to return to normal operations.
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Oil prices dipped on Thursday but held near $80 a barrel and the previous day's record high, as dealers watched a tropical storm in the Gulf of Mexico after a sharp fall in U.S. crude stocks.
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Oil prices fell nearly 1 percent to below $93 a barrel on Tuesday, fading from their latest record high as investors took profits from a rally fuelled by a Mexican supply outage and the spiraling dollar.
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Crude oil futures were little changed near $50 a barrel as output in the Gulf of Mexico remained below normal two weeks after Hurricane Ivan struck the area.
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Oil prices fell on Thursday as forecasts  of mild U.S. weather prompted traders to take profits from a  rally that has added 30 percent to the cost of crude this year.
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Ernesto has lost the little punch it had as it moved over Florida and was downgraded from a tropical storm to a depression, much to the relief of residents who had initially braced for a powerful hurricane.
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Oil fell 2.6 percent on Monday as warm U.S. weather and threats of a recession in the top energy consumer dragged prices further from the $100 record struck last week.
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Oil prices eased on Friday as a hurricane subsided in the Gulf of Mexico, although prices held near the previous day's record high on supply worries ahead of peak winter demand.
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World oil prices fell nearly $2 a barrel on Friday as dealers took profits from a recent rally, but the market remained on edge as powerful Hurricane Ivan thrashed through the Caribbean on a track toward the energy-rich Gulf of Mexico
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LONDON : Oil prices fell back as worries about the impact of tropical storm Frances subsided. The price of benchmark Brent North Sea crude oil for delivery in October lost 11 cents to 40.
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Oil prices fell yesterday after government data showed US inventories of crude grew last week, surprising many traders and analysts who had expected supplies to shrink due to lingering output problems caused by Hurricane Ivan.
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Oil prices slid 3 percent on Monday on  expectations that more mild U.S. weather at the start of the  New Year will limit heating oil demand.
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NEW YORK : Crude oil prices showed a modest decline as fears that Hurricane Frances would disrupt US offshore oil production eased, analysts said.
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Oil prices fell &#36;1 below record highs on Tuesday as fears over supply disruptions in Venezuela eased after President Hugo Chavez won a vote on his rule.
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OIL prices were easing back from their recent record highs yesterday as the cost of a barrel dipped below the $46 mark.
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Global oil prices slipped on Thursday as perceptions of a supply overhang outweighed concerns that a hurricane in the Caribbean could hit U.S. offshore oil and gas production in the Gulf of Mexico.
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Oil prices fell below &#36;73 a barrel on  Tuesday in thin trade, but nagging fears about supply  disruption and expectations of strong U.S. demand for gasoline  were expected to prevent a deeper sell-off.