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Oil Prices Dip Toward $54
 
 Reuters
10-26-2004 |
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Oil near record peaks  Reuters
10-21-2004 |
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Is Oil Heading For $100?  Forbes
10-19-2004 |
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Oil Prices Take Nosedive on Profit-Taking “Oil prices fell sharply Monday in what traders described as a wave of profit-taking after futures hit a new high above $55 a barrel and after gasoline futures fell sharply on indications of declining demand. November crude futures plunged $1.26, or 2 percent, to settle at $53.67 per barrel on the New York Mercantile Exchange. November gasoline futures sank 5.9 cents, or 4 percent, to $1.3504 per gallon.”  Forbes
10-18-2004 |
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Oil Falls From Record as High Prices Expected to Reduce Demand
"Crude oil fell after reaching a record $55.33 a barrel in New York amid concern that rising prices will reduce the growth of demand for petroleum products. The Organization of Petroleum Exporting Countries has boosted production to a 25-year high in an effort to meet surging demand this year. OPEC said that consumption growth will be cut because of record prices. The group said oil demand will rise by 1.61 million barrels a day, 130,000 less than expected last month, to 83.41 million barrels a day in 2005, in a report." 
 Bloomberg
10-18-2004 |
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Oil Prices Hit Highs on Winter Fuel Woes "Oil prices rallied to a record above $55 a barrel Monday on concerns over a winter fuel supply crunch, and as traders took comments from a top U.S. official to mean high prices have yet to really dent American demand."  Yahoo
10-18-2004 |
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Chicago Board of Trade's Dan Says Oil May Rise to $75 a Barrel
"Crude oil prices, which rose to a record $55 a barrel in New York on Friday, may increase further and peak at $75 a barrel, said Bernard Dan, President of the Chicago Board of Trade, the second-biggest U.S. futures market. ``Given that some production is going on around the world, I can't see it much higher than $75 unless there are disruptions in supply lines,'' Dan said on Publishing & Broadcasting Ltd.'s Nine Network's Business Sunday program in Sydney." 
 Bloomberg
10-17-2004 |
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Oil hits record US$55 on winter fuel fears "US oil hit US$55 a barrel on Friday as traders worried over thin heating oil inventories ahead of winter and Federal Reserve Chairman Alan Greenspan predicted the soaring costs would not crimp economic growth as they did in the 1970s. US light crude settled up 17 cents to US$54.93 a barrel on the New York Mercantile Exchange, after setting a new all-time high of US$55 during the regular session."  The New Zealand Herald
10-15-2004 |
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Oil Falls From Record on Concern High Prices May Slow Growth "Crude oil fell from yesterday's record of $54.88 a barrel in New York amid concern that sustained high prices may slow economies and reduce demand for energy. European Central Bank President Jean-Claude Trichet said risks to economic growth have risen because of oil prices."  Bloomberg
10-15-2004 |
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Greenspan: U.S. Can Weather Oil Cost Rise " Record oil prices are unlikely to inflict the economic pain they did in the 1970s, Federal Reserve Chairman Alan Greenspan said on Friday, adding that he thought the world could adjust to higher-priced oil."  Reuters
10-15-2004 |
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Oil Holds Near $55 on Winter Fuel Anxiety "Oil prices held strong on Friday not far below the $55-a-barrel mark as traders worried time is running out to top up low heating oil inventories before winter. U.S. light crude dipped 18 cents to $54.58 a barrel after setting a new all-time high on Thursday of $54.88."  Reuters
10-15-2004 |
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Yukos unit may be sold for $4bn "Yukos' future has been thrown into fresh doubt amid reports that Russia is planning to sell 77% of its key oil production unit by the end of November. Adding to the concern is a local media report that Yuganskneftegas, which accounts for 60% of Yukos' oil output, may be sold for $4bn (£2.2bn)."  BBC
10-15-2004 |
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Crude Oil Inches Toward $55-A-Barrel Mark "Crude oil futures inched toward the $55 milestone Friday, a day after U.S. officials announced a decline in their country's inventory of heating oil, roiling a market already on edge over tight supplies, high demand and unrest in key producers."  Yahoo
10-15-2004 |
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Oil Surges to Record After U.S. Says Heating Oil Supplies Fell
“Crude oil rose to a record $54.76 a barrel in New York after an Energy Department report showed that U.S. supplies of heating oil plunged last week. Crude oil for November delivery rose $1.12, or 2.1 percent, to close at a record $54.76 a barrel on the New York Mercantile Exchange. Futures reached $54.88, the highest intraday price since the contract began trading in 1983. Oil futures were up 72 percent from a year earlier. Prices have risen in 18 of the last 21 sessions.” 
 Bloomberg
10-14-2004 |
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Oil Surges to Record After U.S. Says Distillate Supplies Fell "Crude oil rose to a record $54.60 a barrel in New York after an Energy Department report showed that U.S. supplies of distillate fuels, including heating oil and diesel, plunged last week. Distillate inventories fell 2.5 million barrels, or 2 percent, to 120.9 million, the lowest since the week ended July 23."  Bloomberg
10-14-2004 |
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Crude Oil Breaks Back Through $54 Barrier "Crude oil pushed back through the $54 threshold on Thursday after a pipeline explosion in Mexico stirred supply fears ahead of a key U.S. crude inventory report."  Yahoo
10-14-2004 |
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Bloomberg.com: Latin America "Crude oil rose close to a record on concern that refiners will lack the supplies to meet demand for heating fuel during the northern hemisphere winter. ``There's a distinct lack of availability of heating fuels in the U.S. and northwest Europe,'' said Jack Kellet, a senior trader at Standard Bank in London. ``That's preventing speculators from selling and encouraging commercial players to buy.'' U.S. crude supplies last week probably were 5 percent below year-ago levels, a Bloomberg survey showed. Oil prices have fluctuated by almost $3 a barrel in the past two days after concern that rising energy costs will slow the global economy and oil demand growth halted a rally that drove prices to six straight records. The European Central Bank said today high prices could ``dampen the strength'' of economic recovery."  Bloomberg
10-14-2004 |
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Nigerian strike draws to a close "Nigerian trade unions are expected to end their four-day general strike against fuel price rises on Thursday. The strike has paralysed state activities and also led to the closure of many offices, banks and shops across the country."  BBC
10-14-2004 |
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Oil Breaks Back Through $54 Barrier "Crude oil pushed back through the $54 threshold on Thursday after a pipeline explosion in Mexico stirred supply fears, but it eased slightly in the early afternoon."  Yahoo
10-14-2004 |
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Oil Prices Surge on Mexico Pipeline Blast "Crude oil futures rallied back above $53 late on Wednesday on speculation and panic sparked by an oil line explosion in Mexico. Traders were also nervously monitoring developments in Nigeria's national strike and recovery efforts in the Gulf of Mexico. Crude for November delivery surged $1.13 to settle at $53.64 per barrel on the New York Mercantile Exchange, after falling as low as $51.49 in morning trading. On Tuesday, light, sweet crude settled at $52.51 after hitting an all-time high of $54.45."  Yahoo
10-13-2004 |
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Crude Oil Rises to Record Amid Concern About Supply Disruptions
"Crude oil rose more than a dollar amid concern that low inventories leave U.S. refiners ill- prepared for any disruptions of supply as they seek to produce heating oil for winter. Crude oil for November delivery rose $1.13, or 2.2 percent, to $53.64 a barrel on the New York Mercantile Exchange. Futures erased yesterday's decline and equaled the closing price two days ago, which was the highest since futures began trading in 1983. Prices have risen in 17 of the past 20 sessions." 
 Bloomberg
10-13-2004 |
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Sky-High Oil Price Down for a Second Day "Oil prices fell from record peaks for a second session on Wednesday as big-money funds took profits from a searing rally on signs that high commodity prices are finally starting to dampen demand."  Reuters
10-13-2004 |
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Crude Oil Drops on IEA Forecast 2005 Demand Growth Will Slow
"Crude oil fell after reaching records in the past six days, as forecasts that demand growth will slow next year eased concern about shortfalls when consumption peaks during the northern hemisphere's winter." 
 Bloomberg
10-13-2004 |
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Oil prices hit by profit-taking "Crude prices have closed lower in the US for the first time in a week, as investors took profits after a six days of oil hitting record highs. Benchmark US light sweet crude hit highs of $54.45, before retreating to $52.51 as traders cashed in on gains."  BBC
10-13-2004 |
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Oil prices fall sharply after hitting $54 "Oil prices fell sharply Tuesday after briefly surpassing $54 a barrel amid nagging concerns in the market that the global supply buffer is too thin to handle a significant output disruption."  AP
10-13-2004 |
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Oil Falls on Speculation Demand Doesn't Warrant Record Price "Crude oil fell more than $1 for the first time in a month after reaching a record $54.45 a barrel in New York on speculation that demand doesn't warrant prices at this level. Crude oil for November delivery was down $1.14, or 2.1 percent, at $52.50 a barrel at the 2:30 p.m. close of floor trading on the New York Mercantile Exchange. Prices reached $54.45, the highest since futures began trading in 1983. Oil futures were up 64 percent from a year earlier."  Bloomberg
10-12-2004 |
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Oil Prices Top $54 on Supply Concerns "Oil prices retreated slightly Tuesday after surpassing $54 a barrel amid nagging concerns in the market that the global supply buffer is too thin to handle a significant output disruption. "You can't go up every day. Eventually you have to have some kind of correction," said Tom Bentz, a trader at BNP Paribas Futures in New York. Even with Tuesday's decline, crude futures are up some 20 percent over the past month, in large part because petroleum production in the Gulf of Mexico remains hampered by hurricane damage to pipelines and production platforms."  Yahoo
10-12-2004 |
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Nigerian cities are shut down by strike "Nigerians angry at rising fuel prices expanded a nationwide strike Tuesday that has helped push world oil prices to record highs."  AP
10-12-2004 |
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Oil races past $54, investors fret over economy "A surge in oil prices to record highs above $54 a barrel and weak economic data fanned investor concerns over the health of the global economy on Tuesday."  Reuters
10-12-2004 |
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Oil Rises to Record on Reduced Gulf of Mexico Output, Imports
“Crude oil in New York rose to a record $53.80 a barrel after the U.S. said some production shutdowns in the Gulf of Mexico caused by Hurricane Ivan may last as long as six months. Crude oil for November delivery rose 33 cents, or 0.6 percent, to close at a record $53.64 a barrel on the New York Mercantile Exchange. Oil reached $53.80, the highest intraday price since futures began trading in 1983. Oil futures were up 68 percent from a year earlier.” 
 Bloomberg
10-11-2004 |
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Nigerian fuel strike takes hold "Much of Nigeria has in effect been shut down at the start of a four-day general strike over fuel price rises in Africa's largest oil producer. The strike call has been followed in the main cities of Abuja and Lagos but oil production has not been affected."  BBC
10-11-2004 |
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Gas Hits 4-Month High of $1.99/gallon "U.S. average retail gasoline prices are again approaching $2 a gallon, reaching a four-month high amid record high crude oil prices and the effects of Hurricane Ivan, a leading industry analyst said on Sunday."  Reuters
10-11-2004 |
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Oil Rises to Record for 5th Day; U.S. May Face Winter Shortfall "Crude oil rose to a record for a fifth day, reaching $53.63 a barrel in New York, on concern storm damage in the Gulf of Mexico may lead to a shortfall in U.S. supplies when demand peaks during the winter."  Bloomberg
10-11-2004 |
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New York Crude Oil Rises to a Record $53.40 on Supply Concern “Crude oil in New York rose to a record $53.40 a barrel after the Louisiana Offshore Oil Port shut because of rough seas, limiting the arrival of shipments to the U.S... Crude oil for November delivery was up 68 cents, or 1.3 percent, at $53.35 a barrel at the 2:30 p.m. close of floor trading on the New York Mercantile Exchange. Oil reached $53.40, the highest since futures began trading in 1983. Oil prices were up 6.4 percent this week and 79 percent from a year ago.”  Bloomberg
10-08-2004 |
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Report: Yukos unit to correct violations "The main production unit of Russian oil giant Yukos will be given three months to correct violations on most of its drilling licenses before authorities consider whether to revoke them, the Interfax news agency reported Friday."  AP
10-08-2004 |
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Oil Near Highs, Nigeria Threat Eases "Oil prices held near record highs on Friday even though oil unions in OPEC member Nigeria said a two-day wildcat strike would pass without any impact on exports. U.S. light crude by 1205 GMT slipped 29 cents to $52.38 a barrel, after touching $53 on Thursday, the third day in a row prices set all-time highs."  Reuters
10-08-2004 |
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Crude Oil Surges to a Record on Gulf of Mexico Supply Reduction
"Crude oil in New York rose to a record $53 a barrel, a gain of more than $10 since Hurricane Ivan began to shut Gulf of Mexico oil production almost four weeks ago... Crude oil for November delivery was up 65 cents, or 1.3 percent, to close at $52.67 a barrel on the New York Mercantile Exchange, the highest since futures began trading in 1983. Oil has gained in 14 of the last 16 sessions and is 73 percent higher than a year ago." 
 Bloomberg
10-07-2004 |
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New York Crude Oil Soars to Record $53 on Winter Supply Concern "Crude oil in New York rose to a record $53 a barrel after rising 14 of the last 16 sessions on concern that U.S. supplies will be inadequate to meet winter demand. urricane Ivan has reduced production at platforms in the Gulf of Mexico, source of a quarter of U.S. output. U.S. inventories rose less than expected last week, and unions in Nigeria may strike, threatening shipments from the fifth biggest source of U.S. oil imports."  Bloomberg
10-07-2004 |
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Freeze Is Upheld on Yukos Subsidiaries "A Russian court on Thursday rejected an appeal by the Yukos oil company seeking to overturn a freeze on the accounts of the struggling oil giant's core subsidiaries. Bailiffs are collecting some $7.5 billion in back taxes from Yukos, while its main production unit - Yuganskneftegaz - was recently slapped with a nearly $1 billion claim for 2002."  Forbes
10-07-2004 |
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Oil Climbs to Record for 3rd Day; Winter Supplies May Run Short
"Crude oil for November rose 48 cents, or 0.9 percent, to $52.50 a barrel in after-hours electronic trading on the New York Mercantile Exchange at 1:32 p.m. London time. November Brent crude climbed to a record $48.65 a barrel on London's International Petroleum Exchange, up 66 cents." 
 Bloomberg
10-07-2004 |
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Concerns About Winter Push Oil to Record "The price of crude oil broke into new record territory above $52 Thursday on heightened concerns that supplies of heating fuels will prove inadequate during the northern hemisphere winter."  Yahoo
10-07-2004 |
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Oil Tops $52 a Barrel on Nigeria Worries "Crude futures surged above $52 a barrel Wednesday as a possible strike by Nigerian oil workers loomed and petroleum output in the Gulf of Mexico continued to suffer more than two weeks after Hurricane Ivan whipped through the region."  Yahoo
10-06-2004 |
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Oil Exceeds $52 as U.S. Inventories Rise Less Than Expected
"Supplies gained 1.1 million barrels to 274 million in the week ended Oct 1. A rise of 2.75 million barrels was forecast, according to the median of responses by 14 analysts surveyed by Bloomberg. Inventories of distillate fuel, which includes heating oil and diesel, plunged 2.1 million barrels to 123.4 million, the lowest since the week ended Aug. 6." 
 Bloomberg
10-06-2004 |
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Part of Yukos tax debt recovered "More than 75 percent of the beleaguered Yukos oil company's 2000 tax debt has been recovered from the company, a Justice Ministry official was quoted as saying Wednesday."  AP
10-06-2004 |
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Oil Rises to Record 2nd Day as Nigeria Strike May Cut Supplies
"Nigeria's blue-collar oil workers' union threatened to shut down the oil industry from midnight Sunday, the Vanguard newspaper said. The report heightened concern there won't be enough heating fuel to meet demand this winter after Hurricane Ivan forced U.S. refiners to slow processing rates. OPEC pumped the most oil in 25 years in September and has little capacity to increase output." 
 Bloomberg
10-06-2004 |
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Oil Surge From Hurricane Ivan Pushes Heating Costs to Record "Damage to Gulf of Mexico oil platforms and pipelines from Hurricane Ivan may push up heating oil and diesel prices to records during North America's coldest season."  Bloomberg
10-06-2004 |
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Oil prices set new record "Oil prices has leapt above $51 a barrel as a prolonged U.S. production outage following Hurricane Ivan attracted fresh speculative buying. U.S. light crude set a new high of $51.29 a barrel on Tuesday, a gain of $1.18. It later eased to settle at $51.09, a gain of $1.18 on the day. London Brent also hit a record high of $47.41 a barrel, before settling at $47.10, up 91 cents on the day."  Reuters
10-05-2004 |
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Crude oil prices surge to all-time high "Crude oil prices briefly hit an all-time high of $50.69 on Tuesday as worries persisted over supply and unrest in key producers. After settling at $49.91 in New York, crude for November delivery shot up briefly again in after-hours trade on the New York Mercantile Exchange to briefly reach $50.69, surpassing a previous high of $50.60 set last week. Prices later pulled back, but remained above the $50 mark."  AP
10-05-2004 |
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Oil Rises to Record Above $50 as U.S. Production Stays Curbed "Crude oil prices rose to a record in New York and London after hurricanes in the Gulf of Mexico curbed U.S. production for more than three weeks, slowing the accumulation of supplies to meet winter needs."  Bloomberg
10-05-2004 |
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Oil Eases from Highs on Nigeria Pact “Oil prices eased on Monday after rebels in Nigeria withdrew a threat to target oil operations, but lingering concerns over stretched supplies ahead of winter kept prices close to $50 a barrel. U.S. light crude eased 21 cents from Friday's record settlement price of $50.12 to settle at $49.91, less than a dollar below record highs hit last week.”  Reuters
10-04-2004 |
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Oil Off from Record Highs on Nigeria Pact "Oil prices eased on Monday after rebels in Nigeria withdrew a threat to target oil operations, but lingering concerns over stretched supplies ahead of winter kept prices close to $50. U.S. light crude slid 57 cents from Friday's record settlement price of $50.12 and was trading at $49.51 a barrel, barely a dollar below record highs hit last week. London's Brent crude fell 63 cents to $45.99 a barrel."  Reuters
10-04-2004 |
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Oil prices fall in Asia as rebel tensions in Nigeria ease "Crude oil prices eased below US$50 a barrel in Asian trade Monday after tensions between rebel factions in Nigeria eased over the weekend. At 11:40am (0340 GMT), New York's reference contract, light sweet crude for November delivery was at US$49.75 a barrel, down from the record close in New York of US$50.12 on Friday."  Channelnewsasia
10-04-2004 |
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Oil Rises Above $50 a Barrel as Storm Damage Limits Gulf Output "Crude oil topped $50 a barrel for the fourth time this week on concern that production cuts in the Gulf of Mexico and below-normal U.S. crude inventories will hinder refiners' efforts to stow furnace fuel before cold weather arrives."  Bloomberg
10-01-2004 |
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Oil near $50 on Nigeria unease "Oil prices held above $49 on Friday as a rebel warlord threatening an offensive in Nigeria's oil-producing delta region said the government had violated the terms of a two-day truce."  CNN
10-01-2004 |
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Crude Oil Little Changed After Gaining on U.S. Output Decline "Crude oil futures were little changed after yesterday trading above $50 a barrel for a third day as output in the Gulf of Mexico remained below normal two weeks after Hurricane Ivan struck the area."  Bloomberg
10-01-2004 |
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