Oil prices charge toward $50 a barrel; gasoline prices surge
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Oil prices charged toward $50 a barrel Monday, and gasoline prices surged to $1.92 a gallon last week, as petroleum output in the Gulf of Mexico returns at a slower-than-expected rate after Hurricane Ivan and geopolitical unrest keeps traders on edge.
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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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WASHINGTON -- Oil prices inched closer to $50 a barrel yesterday even as the Bush administration offered to tap the nation's emergency stockpile of crude on behalf of refiners whose supply was disrupted by Hurricane Ivan.
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Drivers in Britain are facing further increases in petrol prices after crude oil prices reached all-time highs, surging past $50 a barrel.
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Crude oil futures contracts topped the psychological milestone of $50 per barrel for the first time Tuesday, surging to new record levels that could unsettle oil importing nations.
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CRUDE oil prices surged past US$50 a barrel for the first time yesterday to a new record high, raising concerns that higher energy costs could slow the global economy next year.
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U.S. oil prices flirted with $50 on  Tuesday, jumping to their highest level in eight weeks after a  fire at a big Louisiana refinery slowed the plant's fuel  production.
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Crude oil futures surged to within striking range of $50 a barrel yesterday, though traders were split on where the market was headed next.
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TORONTO (CP) - With the price of crude oil continuing its summertime climb to hit a record high of &#36;50 US per barrel this week, Canadian consumers are feeling the pinch at the gas pumps and gearing up for a winter of high heating oil costs.
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NEW YORK, November 22  - Crude oil prices increased to near the $50 per barrel mark this morning, amid renewed concerns surrounding a potential shortfall in the heating fuel supplies this winter.
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The price of crude oil futures reached an all-time high Monday, closing just under $50 per barrel, due to hurricane-related production shortages in the Gulf of Mexico and political turmoil in Africa and the Middle East.
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Oil prices set a new record above $50  a barrel on Tuesday as a prolonged U.S. production outage  following Hurricane Ivan attracted fresh speculative buying.
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Crude oil prices jumped beyond $50 a barrel yesterday, renewing concerns that sustained high energy costs will further weaken the US economy.
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Oil prices hit a new record of 50.47 US dollars a barrel on Tuesday as rebels in Nigeria threatened oil output and hurricane Ivan slashed production in the Gulf of Mexico, despite Saudi Arabian pledge to increase output.
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Oil prices surged closer to $50 a barrel after hitting yet another record high in the US yesterday, as confusion reigned over the fate of Najaf, sparking fresh fears about Iraq&#39;s oil supplies.
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The price of oil settled above $50 a barrel for the first time Friday amid concerns over tight supplies globally and hurricane-related production problems in the Gulf of Mexico.
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Crude oil prices climbed above $50 per barrel Tuesday, their highest level since futures began trading in 1983. The increase raises new questions about just how far prices will climb, with