Oil price hurdles $50 on Nigeria threat
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Oil prices have raced to new record highs above $50 as rebel threats against Nigerian oil facilities threaten to inflict further strain on global supplies.
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Oil prices slid below the psychologically critical 50 dollar a barrel mark as tensions eased in Nigeria's southern oil heartland, where a rebel group fighting for control of the country's key resource said it had surrendered its weapons.
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Oil prices are pushing past the psychological barrier of $50 a barrel Tuesday. Prices are rising in part because of the slow recovery of production in the Gulf of Mexico following Hurricane Ivan.
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Oil prices rose to record highs Monday near $50 a barrel for US 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 pierced the $50-a-barrel  mark again on Friday amid concern over possible conflict in  Nigeria's oil-producing delta region, where a two-day truce  between rebel militia and government forces is holding.
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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 prices held above $49 on Friday as a rebel warlord threatening an offensive in Nigeria&#39;s oil-producing delta region said the government had violated the terms of a two-day truce.
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Oil futures prices surpassed $54 a barrel Tuesday on supply concerns in Nigeria and the Gulf of Mexico, where hurricane damage to pipelines and production platforms could curb output for months.
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NEW YORK: Oil prices pierced the $50-a-barrel mark again last night amid concern over possible conflict in Nigeria&#39;s oil-producing delta region, where a two-day truce between rebel militia and government forces is holding.
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Oil futures were little changed after touching a record $50.47 a barrel on concern Nigerian rebels will follow through on threats to cut shipments from the fifth-largest supplier to the US.
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World oil prices marched towards 50 dollars per barrel, touching new highs in pre-opening electronic trading as fighting raged in major producer Iraq.
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U.S. oil prices reached a record $50 a  barrel on Monday as Nigeria emerged as the latest focus for  worries about supply in an already tight worldwide energy  market.
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WASHINGTON - Crude oil prices soaring to nearly $50 a barrel have heightened concerns that sustained high energy costs could drag the slowing US and world economies into a more serious downturn.
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LONDON: World oil prices surged into new record territory above $50 a barrel Tuesday as traders took fright at a multitude of supply threats, including unrest in Nigeria and recent hurricanes.
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Oil prices ended above the $50-a-barrel mark on Friday amid concern over possible conflict in Nigeria's oil-producing delta region, where a two-day truce between rebel militia and government forces is holding.
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Oil prices ended above $50 a barrel on  Friday amid concern over possible fighting in Nigeria's  oil-producing delta region, where a two-day truce between rebel  militia and government forces was holding.
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Brent crude futures on the London oil market reached USD50 a barrel today as Nigerian oil workers went on strike. Nigerian unions launched a four-day general strike to protest rising fuel prices, but oil shipments