Analysts expect oil to break $100 a barrel
The ever-weakening dollar and fresh worries about winter fuel supplies have sent US oil prices pass $98 a barrel.
With global crude prices further lifted by bad weather hitting North Sea oil rigs, US light crude touched as high as $98.62 in early Wednesday trading.
London Brent crude also increased, hitting a all-time peak of $95.19.
The weaker dollar has been driving up oil prices because some investors have been using the commodity as an alternative to holding dollars.
On the other hand, it makes oil relatively cheaper for anybody outside the US.
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