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/ 10 April 2008

Oil prices close to matching record

Oil prices were steady on Thursday after retreating from levels just cents below the record trading high established in the previous session on an unexpected drop in United States crude inventories. By afternoon in Europe, the contract was up 25 cents, fetching ,12 a barrel in electronic trading on the New York Mercantile Exchange.

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/ 7 April 2008

Oil rises on poor US jobs data

Oil prices rose on Monday in Asia as prospects for further cuts in United States interest rates seemed more likely after poor US jobs data at the end of last week. The US Labour Department said on Friday that employers cut payrolls by 80 000 jobs last month, many more than analysts had expected.

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/ 24 March 2008

Oil prices drop amid US economic concerns

Oil prices slipped more than a barrel on Monday as traders worried that the flagging United States economy would cause oil demand to soften. Oil’s sharp decline started last week. Crude futures started plunging after the US Federal Reserve-backed sale of Bear Stearns to JPMorgan Chase created fears of deeper economic problems.

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/ 26 November 2007

Colder US weather pushes up oil prices

Oil prices rose to near a barrel on Monday on signs of colder weather in the United States and Europe and the continued weakness of the dollar. The Thanksgiving holiday on Thursday marked the unofficial start of winter in the US. Among other areas, south-eastern New Mexico got up to 23cm of snow.

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/ 20 September 2007

Oil prices stay above $82 a barrel

Oil prices kept rising on Thursday after reaching record highs in the previous session on United States refinery outages and declines in US oil inventories. A decline earlier in the day was reversed in part by worries over a potential tropical-storm threat to oil and gas installations in the Gulf of Mexico, analysts said.