World oil prices head towards 50 dollars on supply fears
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LONDON : Oil prices raced ahead to new record high levels in London and approached 50 dollars in New York as unrest in oil producers Nigeria and Saudi Arabia stoked supply worries, traders said.
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Oil prices are pushing past the psychological barrier of $50 a barrel Tuesday. Prices are rising in part because of the slow recovery of production in the Gulf of Mexico following Hurricane Ivan.
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Oil prices rose to record highs Monday near $50 a barrel for US crude as Nigeria emerged as the latest focus for worries about supply in an already tight worldwide energy market.
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Crude oil prices pushed past the psychologically important 50 dollars per barrel mark today to an all-time high of 50.01 dollars as the market stayed bullish on a slow post-Hurricane Ivan recovery in the Gulf of Mexico.
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Oil prices hugged $50 a barrel on  Wednesday on worries of potential supply disruptions and with  U.S. crude inventories expected to fall due to the lingering  effects of Hurricane Ivan.
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Oil prices soared to a new record above $50 yesterday as uncertainties over Nigerian output heightened worries of a severe supply disruption ahead of winter.
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Crude oil prices breached the psychological mark of US$50-per-barrel on Tuesday on worries that production shutdowns from hurricanes in the Gulf of Mexico and growing unrest in Nigeria would undermine global supply of black gold.
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Crude oil prices pushed past the psychologically important US$50-per-barrel mark Tuesday to an all-time high of US$50.01 as the market reacted to the slow recovery of US oil production in the Gulf of Mexico following Hurricane Ivan.
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U.S. crude oil futures broke through  $50 to a new record on Tuesday, on worries over supply  disruptions from Nigeria and other major producers.
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Oil prices climbed back to $50 on  Tuesday, pushed higher by supply outages in the North Sea and  fears about low stocks of winter heating fuels.
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World oil prices marched towards 55 dollars today on worries about low stocks of US heating fuel and tight crude supplies amid strong demand in key markets ahead of the northern hemisphere winter.
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NEW YORK - The price of oil settled above $50 a barrel for the first time yesterday amid worries about tight supplies and production problems because of hurricanes in the Gulf of Mexico.
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World oil prices have hit fresh record highs above $US50 per barrel in electronic trading ahead of formal pit deals, stoked by fears about supplies.
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Oil prices were hovering close to last weekâs record high today after breaking through the 50 US dollars mark again. Production problems in the Gulf of Mexico due to
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Oil prices raced to new record highs above $50 on Tuesday as rebel threats against Nigerian oil facilities threatened to inflict further strain on global supplies.
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NEW YORK - Oil prices raced to new record highs above US$50 on Tuesday as rebel threats against Nigerian oil facilities threatened to inflict further strain on global supplies.
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NEW YORK -- The price of oil settled above $50 US a barrel for the first time yesterday amid concerns over tight supplies globally and hurricane-related production problems in the Gulf of Mexico.