Crude prices rise as the dollar hovers near record low and supply concerns persist. Analysts see $150 a barrel looming.
Oil prices touched a record high above $142 a barrel Friday, before easing a bit, as traders expect the dollar to remain weak and tense geopolitical situations continue to raise concerns about supply disruptions.
At 12:09 p.m. ET, light, sweet crude was up 70 cents to $140.34 a barrel on the New York Mercantile Exchange.
The front-month contract had hit an all-time high of $142.26 in electronic trading earlier.
Currency issues Many analysts say the dollar's decline has been a major driver of oil prices, which have more than doubled in the last year.
The dollar rose slightly against the euro early Friday, but it is still near an all-time low versus the euro zone currency.
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