NYMEX's December crude futures on the CME's Globex system were 88 cents
higher at $91.34/barrel Friday as tightening supply in the US and mounting
geopolitical tensions left the market with a selling vacuum.

"The confluence of strong fundamentals and a worsening geopolitical
environment have created the right platform for the sharp push up in prices,"
Kevin Norrish, energy analyst at Barclays Capital, said in a report.

"Wednesday's DOE statistics showed a continued deterioration of the US
crude oil inventory position that, relative to the five-year average, now
stands at its lowest level since march 2005."

The front-month crude contract soared above $92.00/barrel in overnight
trading, hitting an all-time high of $92.22/barrel, while front-month Brent
hit a record-setting $89.30/barrel.

Coinciding with the run-up in prices was a new all-time low in the US
Dollar Index on ICE Futures. The dollar index traded down to 77.035.

--Linda Rafield, linda_rafield@platts.com