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/ 17 April 2008

Oil sets yet another record

Oil set a record above a barrel on Thursday as a drop in United States gasoline inventories raised concern of tighter supply and a weak dollar boosted investor demand for commodities. A US government report on Wednesday showed a surprise drop in crude inventories and a larger-than-expected decline in stocks of petrol.

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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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/ 21 March 2008

Oil extends slide on economic worries

Oil prices extended a week-long slide on Thursday, briefly tumbling below a barrel for the first time in two weeks amid growing concerns an economic slowdown in top consumer the United States would cut global energy demand. US crude settled down 70 cents to ,84 a barrel after falling as low as ,65 earlier in the session

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/ 8 November 2007

Oil resumes march to $100

Oil recouped early losses to resume its march towards the -milestone on Thursday as resurfacing worries of tight winter supplies and continuing dollar weakness put the brakes on some early profit-taking. By 12.57pm GMT, United States crude for December delivery stood 57 cents up at ,94.

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/ 27 October 2007

Oil price hits record high on Iran tensions

World oil prices surged to historic highs on Friday, breaching $92 for the first time in New York amid rising tension in crude-rich Iran and tightening United States energy supplies. New York’s main futures contract, light sweet crude for delivery in December, soared to a record intraday high of $92,22 per barrel.

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/ 17 October 2007

Oil strikes new all-time high of $89

Oil marched to a new peak of a barrel on Wednesday as investors fretted over possible military action in northern Iraq and a potential supply crunch this winter. Turkey’s Parliament on Wednesday granted its troops permission to launch an attack inside Iraqi territory, despite international pressure not to.