Crude Oil Rises Above $55 to Record on US Supply Concern
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Crude oil futures rose to a record in New York for a third day on speculation US demand for heating oil will deplete inventories this winter.
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Crude oil in New York rose to a record $53.80 a barrel after the US said some production shutdowns in the Gulf of Mexico caused by Hurricane Ivan may last as long as six months.
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Crude oil rose, extending a 4.7 percent gain in London yesterday, the biggest in seven weeks, amid concern that a larger-than-expected decline in US inventories last week reduced supplies available for production of heating fuels.
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SAN FRANCISCO (CBS.MW) -- Crude-oil futures climbed back above $55 a barrel Tuesday to match last week&#39;s record close as traders turned their attention back to heating fuel ahead of this week&#39;s updates on US petroleum supplies.
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World oil prices marched towards $55 today on worries about low stocks of US heating fuel and tight crude supplies, amid strong demand ahead of the northern hemisphere winter.
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Crude oil futures rallied late Friday to a new record high of $54.90, a day after a decline in the US inventory of heating oil roiled a market already on edge over tight supplies, high demand and unrest among key producers.
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Oil prices surged to yet new record  highs Tuesday, driving U.S. crude above $54 as global supply  outages thwart efforts to build winter heating fuel  inventories.
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NEW YORK, October 25  - Crude oil prices increased to new record high levels at $55.63 per barrel today, driven by concerns surrounding a potential disruption in supplies due to a shipping strike in Norway, the world&#39;s third-largest oil
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Oil prices forged to a record high above  $55 a barrel on Friday on rising fears of a winter fuel supply  crunch and robust economic growth in China, the world's number  two user.
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SINGAPORE - Crude oil prices surged past an unprecedented $55 per barrel Monday as uncertainty swirls over production, high demand and tight global supplies.    Crude for November delivery on the New York Mercantile Exchange hit $55.33 per barrel around noon in Asia, up 40 cents from its Friday settlement price...
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Oil prices climbed again Friday, closing above $55 a barrel for the first time on conercns of domestic shortages in the upcoming winter.
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Oil prices surged to yet new record highs Tuesday, driving U.S. crude above $54 as global supply outages thwart efforts to build winter heating fuel inventories.
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Oil futures prices have jumped 5 percent higher, climbing above $44 a barrel in the United States Wednesday after US government data showed a slight decline in crude and heating oil supplies as colder weather in the Northeast drove up
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Oil prices made fresh gains above $55 a barrel on Monday led by record-breaking heating oil prices on fears of a winter supply crunch.
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U.S. crude oil climbed above $60 a barrel for the first time in a month on Friday, extending a gain of $2 a day earlier, amid signs of falling crude exports from producer group OPEC.
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The price of crude oil surged past $55 a barrel Monday as uncertainty swirled over production, high demand and tight global supplies.
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U.S. crude oil climbed above $60 a barrel  for the first time in a month on Friday, extending a gain of $2  a day earlier, amid signs of falling crude exports from  producer group OPEC.