Oil Extends Rally on Heating Worries
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Oil prices continued to rally on  Monday, clawing back more of this months' losses on heightened  concerns over low global winter fuel supplies.
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Oil prices made fresh gains above $55 a barrel led by record-breaking heating oil prices amid fears of winter supply shortages across America.
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Crude oil rose, extending a 4.7 percent gain in London yesterday, the biggest in seven weeks, amid concern that a larger-than-expected decline in US inventories last week reduced supplies available for production of heating fuels.
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U.S. stocks rose on Monday, extending  Friday's rally, as oil prices inched down.
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Oil prices edged higher for the second day on Wednesday ahead of US government data expected to show a slight decline in winter heating fuel stocks.
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Stocks rose sharply yesterday, extending their rally for a second session as investors expressed relief over plummeting oil prices following a government report that showed an increase in crude inventories. The Dow Jones industrial average had its second straight triple-digit gain, pushing back above the 10,000 mark.
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Oil prices made fresh gains above $55 a  barrel on Monday led by record-breaking heating oil prices on  fears of a winter supply crunch.
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WASHINGTON -- Oil futures prices surged to new heights above $55 US a barrel yesterday as concerns about the global supply of heating oil persist ahead of winter.
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Oil prices held firm above $41 a barrel  on Tuesday as colder weather in the U.S. brought temperatures  more into line with seasonal norms, spurring heating oil  buying.
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Oil prices made fresh gains above $55 a barrel on Monday led by record-breaking heating oil prices on fears of a winter supply crunch.
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Oil prices edged higher for the  second day on Wednesday, recovering from a week-long $5 slump  ahead of U.S. inventory data expected to show a slight draw in  distillates, which include winter heating fuel.
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Oil prices jumped nearly 2 percent on Tuesday as colder weather in the United States, the world&#39;s largest heating oil market, brought temperatures more in line with seasonal norms.
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Oil prices rise again after US government data showed heating stocks remained 16% down on 2003 levels.
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NEW YORK - Oil prices recovered from seven-week lows on Wednesday, surging more than 3 per cent as a drawdown in US heating fuel stocks rekindled worries about thin supplies ahead of the northern winter.
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Oil prices briefly climbed back over $50 on Tuesday, pushed higher by supply outages in the North Sea and fears about low stocks of winter heating fuels.
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Crude oil futures rose for a second day amid speculation demand for heating oil may gain in the US after weather forecasters said unseasonably warm weather predicted this week will end in early January.
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Oil turned higher again on Tuesday after retreating from record highs in response to concerns about the U.S. economy and further indications OPEC has already substantially raised oil output.