Oil hits another record above $97

NEW YORK (CNNMoney.com) — Oil prices set another record high Tuesday, jumping over $2 on fears of dwindling supplies in the United States, projections for strong worldwide demand and a falling U.S. dollar.A suicide bombing in Afghanistan that killed at least 35 people and a pipeline attack in Yemen also helped push prices higher.

Oil prices jumped above $96 Friday, another record, as traders bet on falling U.S. supplies.
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U.S. light crude for December delivery gained $2.72 to settle at $96.70 a barrel on the New York Mercantile Exchange, surpassing the previous closing high of $95.93 set Friday. Crude hit a, intraday high of $97.07, surpassing the previous intraday record of $96.05, also set Friday.

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