The price of New York crude oil hit an all-time high point of $103,05 per barrel on Friday owing to record weakness of the dollar, but then fell back, traders said. And the price of gold reached an historic peak of $976,32 per ounce. "This was part of a broad-based commodities run based on the continued weakness of the dollar," said Petromatrix analyst Olivier Jakob.
Oil hit a record high of nearly $79 a barrel on Wednesday, after the Organisation of the Petroleum Exporting Countries's (Opec) modest output increase failed to allay winter supply concerns and ahead of United States inventory data. US light crude for October delivery set a record high of $78,99 a barrel.