Crude Oil Rises as Nigerian Union Calls Strike Over Fuel Prices
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Crude oil rose after the biggest labor organization in Nigeria, the fifth-largest crude-oil supplier to the US, called for a strike later this month that could end up disrupting the country&#39;s oil exports.
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Nigeria's main umbrella union said Sunday it would go ahead with a general strike in Africa's top oil producer Monday to protest against rising domestic fuel prices.
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Global crude oil prices, which shot up to record highs on Monday, continued to rule at the same level of close to $54 a barrel. Following the nationwide strike that began in Nigeria to protest against high
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Crude oil prices rose Friday amid worries about supply after Nigeria's powerful oil unions went on strike and gunmen kidnapped six oil workers in the nation's south. Concern about more tensions with Iran was also a factor.
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Nigeria&#39;s two main trade unions decided on Saturday to call off their four-day-old general strike over a rise in fuel prices after reaching an agreement with the government, a source told AFP.
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Oil futures prices advanced to another record high yesterday as a strike began in Africa's largest exporter of crude, exacerbating global supply concerns at a time of strong demand and reduced output in the hurricane-ravaged Gulf of Mexico.
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Crude near $53 a barrel level as Nigeria and Norway set strikes, bombings in Egypt, Paris. NEW YORK (CNN/Money) - Oil prices see-sawed Friday, getting closer to the $53 a barrel level, as labor strife in Nigeria
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Another round of petrol price rises could be looming after crude oil prices hit the $US50 a barrel mark over the weekend. Oil prices are at their highest in more than 20 years due to supply concerns in Nigeria
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afrol News, 11 October - Nigeria&#39;s trade unions today again lashed out against the hike in prices of petroleum products, organising a nation-wide strike.
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A four-day national strike has begun in Nigeria in protest at a 25% increase in the cost of oil. Oil executives in Nigeria said they were confident there would be no immediate disruption to exports.
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Unions vowed to extend a general strike  over fuel prices in Nigeria to a second day on Tuesday, helping  drive world oil prices to record highs even though shipments  from Africa's top producer were unaffected.
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A fresh attack on oil facilities in Nigeria and possible strike action by workers there sends oil prices above $70 a barrel.
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A nationwide strike is underway on Monday in Nigeria to protest against rising fuel prices, bringing much of Africa&#39;s top oil producer to a near standstill.
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NEW YORK - Oil prices continued their rise on Monday, as a general strike shut down Nigeria and a Moscow court upheld a billion dollar back tax demand on Yukos, Russia&#39;s largest oil producer.
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Trade unions in Nigeria threaten to call a general strike in protest at recent fuel price hikes.
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SINGAPORE : Crude oil prices were higher in Asian trading hours on Monday after oil workers in Nigeria announced over the weekend they would launch an indefinite general strike later this month, dealers said.
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LAGOS : Tens of millions of Nigerian workers began a four-day nationwide strike over rising fuel prices as labour leaders launched their latest challenge to President Olusegun Obasanjo&#39;s economic reforms.