Crude oil price reaches record $90/bl

Crude oil price surpassed $90 per barrel for the first time after the dollar traded near a record low against the euro enhancing the appeal of commodities as an investment, according to a report on the website of Bloomberg.

Crude oil for November delivery reached $90.02 per barrel in after-hours electronic trading on the New York Mercantile Exchange, the highest since trading began in 1983. Prices eased to $89.44, down 3 cents, in Singapore trades.

The contract rose $2.07, or 2.4%, to $89.47 yesterday - a record close, the report added.