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/ 18 January 2006
Crude oil prices gained on Wednesday as traders fretted over threats to supply if sanctions were to be made against Iran, Opec’s second-largest producer, over its nuclear ambitions. Disruptions in Nigerian oil supplies amid rising civil unrest also fuelled gains.
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/ 17 January 2006
Crude oil prices jumped on Tuesday as Iran’s nuclear ambitions and an attack on an oil platform in Nigeria kept traders edgy over potential supply snags. Light, sweet crude for February delivery rose 98 cents to ,90 a barrel in Asian electronic trading on the New York Mercantile Exchange.
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/ 27 December 2005
Crude futures fell on Tuesday in thin post-Christmas trading, as forecasters in the United States said the weather would be milder in the week ahead, raising traders’ expectations of lower demand for heating fuels. Light, sweet crude for February delivery slipped 82 cents to ,60 a barrel on the New York Mercantile Exchange.
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/ 1 November 2005
Oil prices settled below $60 a barrel for the first time in three months on Monday, as forecasts calling for warmer weather sparked a wave of selling. Earlier in the month, the market had moved lower on signs of weakening gasoline demand following a summertime spike in pump prices.
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/ 20 October 2005
Crude futures fell on Thursday on news that United States gasoline stocks rose last week and as forecasts predicted Hurricane Wilma will likely avoid key US oil facilities along the Gulf of Mexico coast. Light, sweet crude for November delivery slipped 44 cents to ,97 a barrel on the New York Mercantile Exchange in Asian electronic trading.
Oil prices gained slightly on Monday on expectations of higher demand for heating oil as the northern-hemisphere winter approaches, stretching supplies strained by the slow recovery of United States crude production following back-to-back hurricanes Rita and Katrina.
Oil prices slipped on Friday, a day after its record-setting session, as Hurricane Katrina spared refineries in the Gulf of Mexico and made landfall on Florida’s coast, easing fears of supply disruptions for the time being. However, the world’s limited excess capacity to offset any unscheduled outages continues to be at the pricing forefront.
Crude futures rose to a new high of ,69 in Asian trading on Monday as the United States government announced the closure of its embassy and consulates in Saudi Arabia due to security threats and on continued concerns that earlier shutdowns of US oil refineries would reduce supply.