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/ 31 October 2007

Oil price hits $94 for first time

Oil prices hit fresh record highs on Wednesday, with New York crude at $94 per barrel after news that United States crude inventories had slumped last week, traders said. "The market is clearly reacting to the larger-than-expected drop in crude oil inventories," said Citigroup analyst Tim Evans. Over the course of Wednesday, prices rocketed by as much as $4 to $5.

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/ 4 September 2007

Central America braces for powerful Hurricane Felix

Tens of thousands of people hunkered in storm shelters on Tuesday as Hurricane Felix roared toward Central America, but transport shortages left many facing the storm’s whipping winds and rain in their homes. The category-four hurricane, due to make landfall around mid-morning, charged toward Honduras and Nicaragua with top sustained winds of 215km/h.