Oil Closes Above $50
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Oil prices closed above $50 a barrel for the first time yesterday as concerns linger about damage to oil production in the Gulf of Mexico from Hurricane Ivan.
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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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LONDON: World oil prices surged into new record territory above $50 a barrel Tuesday as traders took fright at a multitude of supply threats, including unrest in Nigeria and recent hurricanes.
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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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PARIS The price of oil, which has been inexorably rising for the past two years, finally broke through the $50-a-barrel mark Tuesday, reaching a new milestone as some analysts warned that there was nothing to stop prices from rising even further.
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The price of crude oil ends above $50 a barrel for the first time in 21 years of trade on New York's Nymex exchange.
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Oil prices surged to new record highs on Monday near $50 for US crude as Nigeria emerged as the latest focus for worries about supply security on world energy markets.
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Crude oil prices briefly hit an all-time high of $50.69 on Tuesday as worries persisted over supply and unrest in key producers.
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SINGAPORE, OCT 5: US oil prices scrambled back over $50 a barrel on Tuesday, kept on edge by a prolonged production outage in the Gulf of Mexico at a time when major exporters are already pumping nearly full tilt.
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SINGAPORE -- Oil lingered above the $50 per barrel threshold in Asian trade today, breaching the mark for the second straight day ahead of key US crude stockpile data.
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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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Oil prices ended above $50 a barrel amid concern over possible fighting between rebles and the military in Nigeria&#39;s oil-rich delta region.
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TORONTO - Crude oil prices hit an all-time high Tuesday, pushing past the psychological barrier of $50 US per barrel during Asian trading.
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Oil lingered above the $50 per barrel threshold in Asian trade Wednesday, breaching the mark for the second straight day ahead of key US crude stockpile data.
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Oil prices ended above $50 a barrel on Friday amid concern over possible fighting between rebels and the military in Nigeria&#39;s oil-rich delta region.
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RIYADH, 6 September 2004 - Oil prices soared to historical record levels approaching $50 a barrel two weeks ago, after ranging at about $10 five years ago.
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Crude oil surpassed $50 a barrel and was close to a record in New York as US production in the Gulf of Mexico took longer than expected to recover, slowing the buildup of inventories to meet winter needs.