Crude oil hits $99.29

In a stunning overnight reversal, NYMEX crude oil went from consolidation around the $94-95 level to a new record high of $99.29 per barrel. That puts us within stone-throwing distance of $100 oil.

bloomberg.com :

Crude oil rose above $99 a barrel for the first time in New York as a weakening U.S. dollar increased demand for commodities. Crude oil for January delivery climbed as much as $1.26, or 1.3 percent, to a record $99.29 a barrel in after-hours electronic trading on the New York Mercantile Exchange.

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