From Reuters via Yahoo! News: "U.S. Oil Jumps Over $54 on Winter Worries," by Tony Reynolds--
Oil prices surged to record highs above $54 on Tuesday as a fire at Nigerian export pipeline became the latest threat to consumers' efforts to build winter heating fuel inventories.U.S. crude set a record $54.45 a barrel, marking a sixth successive day of all-time peaks, and by 1210 GMT was trading at $54.16, up 52 cents on the day.
In London, Brent crude hit $51.50 a barrel, before retracing to $51.10, up 44 cents.
Prices were bolstered by news that saboteurs had set fire to a major oil pipeline feeding the Bonny export terminal in Nigeria, which exports 500,000 barrels per day (bpd) of crude.
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