$100 oil a certainty - analysts

November 01, 2007

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. 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.Speaker: Addison Armstrong, director of market research, Tradition Energy. Conway G. Gittens reports from New York.