Oil Near Peaks on Winter Supply Worries
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Oil prices held near record peaks on  Thursday after a larger-than-expected decline in heating fuels  in the United States heightened fears of a winter supply  crunch.
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Oil prices pushed toward record peaks on  Thursday after a larger-than-expected decline in heating fuels  in the United States heightened fears of a winter supply  crunch.
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The U.S. winter will be longer and  slightly colder than the last, private forecasters say,  spelling a spike in heating oil and natural gas demand even as  high oil prices drive up the cost of heating.
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Oil prices have pushed above $49 a barrel, approaching record levels as worries about the stability of supplies from Iraq, Nigeria and Russia compound concerns over low fuel stocks ahead of winter.
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London oil prices hit record highs on Monday as worries about the stability of supplies from Iraq, Nigeria and Russia compounded concerns over low US fuel stocks ahead of winter.
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Oil bounced back above $59 a barrel on Tuesday as the coldest weather of the U.S. winter was expected to draw down heating oil stocks.
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Oil prices today hit a new high amid fears over low fuel stocks as winter approaches and renewed concern about the security of supplies.
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Oil prices rose on Monday as the OPEC  cartel said it might cut supply as the Northern Hemisphere  winter draws to a close.
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LONDON  - Oil prices remained stubbornly above 54 dollars, creeping up towards new record summits on worries of a winter supply crunch after a fifth straight weekly fall in US heating fuel stockpiles.
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WASHINGTON - Oil prices cruised above $55-a-barrel yesterday as concerns about the global supply of winter fuels persist ahead of the Northern Hemisphere winter.
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LONDON  - Oil prices pushed higher, extending sharp gains seen late last week as cold weather forecasts for the United States and Europe rattled markets nervous about tight winter supplies.
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Oil prices rose on Friday as worries a  cold spell in the United States could erode already depleted  winter fuel inventories spurred the market higher.
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Oil prices held strong above $53 a  barrel on Wednesday as worries over a winter supply crunch  countered expectations that high fuel costs would curb growth  in petroleum demand next year.
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Top forecasters predict normal to  colder-than-normal weather for the U.S. Northeast this winter,  but high fuel stockpiles may buffer consumers in the world's  biggest heating oil region from price spikes.
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Oil surged $1, toward $60, on Tuesday on expectations the coldest weather of the U.S. winter would cut heating oil stocks in the world's top energy consumer.
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Oil prices held strong on Friday not far below the &#36;55-a-barrel mark as traders worried time is running out to top up low heating oil inventories before winter.
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Oil prices edged up toward $48 a  barrel early on Friday as worries that an early or severe  winter could stress low winter fuel stocks helped staunch the  market's $8 tumble from record highs.