Oil Scales New High as Norway Strike Hits
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LONDON -- Oil scaled a new high above $55 a barrel Monday as a threat by Norwegian ship owners to halt production from the world&#39;s third biggest exporter stoked fears of a winter supply crunch.
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Oil prices broke into fresh record territory above $52 on Thursday on heightened concerns over tight winter heating fuel supplies.
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LONDON  - Oil scaled a new high above $55 a barrel Monday as a threat by Norwegian ship owners to halt production from the world's third biggest exporter stoked fears of a winter supply crunch.
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World oil prices scaled record peaks last night, rising on concern over disruptions to supply from strike-hit producers Nigeria and Norway.
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Oil prices hit another record on  Friday, trading as high as $53.40 a barrel, on supply worries  ahead of a planned oil worker strike in Nigeria and delays in  post-Hurricane Ivan U.S. output recovery efforts.
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Oil workers threatened to step up an 11-week strike on Norwegian offshore oil fields on Friday by shutting down an oil production ship &#151; a move that could cut the amount of crude produced by the Nordic country by some 30,000 barrels a day.
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World oil prices have shot to record highs as concern grows about even more expensive fuel at the petrol pumps. In London, Brent North Sea crude oil for delivery in November surpassed $50 a barrel for the first time in the contract&#39;s 16-year history.
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Norway's natural gas production reached a new high in 2004, but falling oil output is putting pressure on the world's third-largest oil exporter to find new reserves, the Norwegian Petroleum Directorate said Thursday.
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Oil hit a record high above $79 a barrel on Wednesday, propelled by an unexpectedly large drop in U.S. crude oil stocks that followed only a small output increase from OPEC ahead of peak winter demand.
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Oil prices surged to record highs above  &#36;78 on Friday as global geopolitical storm clouds gathered,  with supply disruption in OPEC exporter Nigeria and tensions  across the Middle East driving crude into unchartered  territory.
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Oil prices broke into fresh record  territory above $52 Thursday on heightened concerns that  supplies of heating fuels will prove inadequate during the  northern hemisphere winter.
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NEW YORK -- Oil futures prices headed to a new high Monday as a strike began in Africa&#39;s largest exporter of crude oil. Crude for November delivery rose 33 cents to $53.
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LONDON: Oil prices extended record-setting highs above US$51 for US crude yesterday, led by worries over the impact of Hurricane Ivan on US winter fuel stocks.
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Oil scaled a new high above $55 a barrel  Monday as a threat by Norwegian ship owners to halt production  from the world's third biggest exporter stoked 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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Oil prices hit a record high Thursday of more than $90 a barrel after reports indicated that the Organization of Petroleum Exporting Countries has no plans to increase production.
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The price of crude oil reaches new record levels amid concerns about possible unrest in Venezuela and the threat of sabotage in Iraq.