Crude oil prices rose above US$ 99 per barrel on Nov. 21. It set a new intraday high of US$ 99.29 a barrel, breaking its previous record of US$ 98.62 a barrel posted last Nov. 7.
A fall in the value of the US dollar on the foreign exchange markets helped fuel the oil's rally. Concerns over tight global supplies was also helping push oil prices up as OPEC members are worrying on their diminishing purchasing power.
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