Oil Near $50 on Supply Fears in Nigeria
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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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NEW YORK - Oil prices raced to new record highs above US$50 on Tuesday as rebel threats against Nigerian oil facilities threatened to inflict further strain on global supplies.
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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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Oil prices raced to new record highs  above $50 on Tuesday, despite a pledge by OPEC producer Saudi  Arabia to increase production, as rebel threats against  Nigerian oil facilities threatened to inflict further strain on  global supplies.
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Oil prices pierced the $50-a-barrel mark again today amid concern over possible conflict in Nigeria's oil-producing delta region.
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Crude oil prices surged past the $50 per barrel milestone in overnight trading in response to the triple threat of turmoil in the oil-rich countries of Nigeria and Iraq and a decline in production in the hurricane-battered Gulf of Mexico.
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Oil futures prices sank below $50 a barrel Monday, continuing the selloff sparked last week by rising US supplies of crude and easing fears about the refining industry&#39;s ability to satisfy heating oil demand.
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Oil prices soared to a new record above $50 yesterday as uncertainties over Nigerian output heightened worries of a severe supply disruption ahead of winter.
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World oil prices hit new records above $50 a barrel Tuesday amid fears that problems in oil-producing nations mean that oil supplies may not meet strong demand.
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OIL prices surged past $50 a barrel yesterday, driven to the historic high by the threat of an armed uprising in Nigeria against the government and multinationals.
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Oil should continue to flow from Nigeria despite a rebel threat to attack foreign oil workers, which has sent world oil prices to record levels above $50 a barrel, multinational energy companies said.
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LONDON, United Kingdom -- Oil prices fell back from record highs Monday, ducking below 50 dollars in New York as fears of disruption to supplies from Nigeria receded after a peace deal between rival gangs in the oil-rich Niger Delta.
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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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Oil prices surged to new record highs on  Monday near $50 for U.S. crude as Nigeria emerged as the latest  focus for worries about supply security on world energy  markets.
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Oil prices fall on news of Nigerian peace talks but analysts expect the price to remain close to the $50 mark.
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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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New York, Sept. 29 (NNN): Hitting fresh 21-year highs of more than $50 a barrel a day earlier, oil prices eased slightly on Tuesday but remained quite volatile as increased fighting in Nigeria forced several