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/ 21 April 2008

Oil soars to record above $117

Crude oil prices surged above , setting a new record high on Monday because of worries of supply disruptions from major producers and comments by the Organisation of the Petroleum Exporting Countries (Opec) reiterating there is no need to raise output.

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/ 15 April 2008

Oil prices scale record highs above $112 a barrel

World oil prices touched new record highs above $112 a barrel in Asian trade on Tuesday as supply concerns and a sluggish greenback remained key factors behind the hike, dealers said. They said market sentiment remained bullish after the latest United States government data showed a surprise sharp fall in the country’s energy stockpiles.

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/ 2 January 2008

Oil bounces above $96

Oil rose above on Wednesday, bolstered by expectations United States government data would show crude stocks falling for the seventh consecutive week, and as fresh violence in major oil exporter Nigeria revived supply concerns. US light crude for February delivery rose 46 cents to ,44 a barrel by 7.08am GMT, while London Brent crude rose 48 cents to ,33 a barrel.

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/ 8 December 2007

New coach seeks answers from weak Windies

Australian coach John Dyson says he needs to sit down with the West Indian players and quickly discover why they are underachieving in world cricket, reports said on Saturday. The former Test opening batsman coach leaves Sydney for the Caribbean on Monday to take up his appointment as the new West Indies coach.

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/ 4 December 2007

Price of crude falls on hopes of cuts by Opec

Oil prices fell again on Monday, adding to last week’s 10% slump, on continued speculation that the producers’ cartel Opec would agree to increase output when it meets on Wednesday in Abu Dhabi. United States light crude futures fell by more than a dollar a barrel in busy trading to about ,50 a barrel — almost a barrel lower than the peak of ,29 set two weeks.

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/ 9 November 2007

Oil prices regain lost ground

Oil prices rose on Friday to regain ground lost in a fall the previous session, as persistent supply concerns and a late rebound in United States stocks offset worries about US economic growth. Wall Street fell on Thursday but finished well off its lows after a late rebound in financial shares lifted other stock sectors.

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/ 1 November 2007

Oil leaps to $96 high on US inventory drop

Oil leaped more than 1% on Thursday, briefly topping for the first time and extending the previous day’s 5% jump after an unexpected sharp fall in United States crude stocks and data showing strong economic growth. The rise toward oil’s inflation-adjusted peak of ,70 from April 1980 was also supported by US dollar weakness after a Federal Reserve interest rate cut.

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/ 29 October 2007

Oil hits record high above $93

Oil prices jumped to fresh historic highs on Monday, breaching $93 for the first time on mounting concerns about tight energy supplies worldwide, analysts said. Investors pushed up crude futures to new peaks as more bad news in the shape of Mexican production cutbacks came on top of already serious tensions in the Middle East.