Analysts expect $100 oil

Nov. 1 - Crude oil crossed $96 a barrel for the first time on record and then retreated, but analysts said it was just a matter of time before oil hit the $100 milestone. Falling global supplies and growing global demand into the key home heating season was a main support for high prices, analysts said. Other factors behind a higher range for crude included a weaker dollar and geopolitical tensions in the Middle East.

Conway G. Gittens reports from New York.

Speaker: Addison Armstrong, director of market research, Tradition Energy; John Felmy, chief economist at the American Petroleum Institute

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• crude
• oil
• barrel
• energy
• Middle
• East