Weekend showed rise in oil prices

On the closing week the oil prices were record high above $98 a barrel at the New York Stock exchange and market experts are just predicting the next week will get the oil prices to reach a high to $ 100 a barrel.

The report by an Energy Department on Nov. 21 said that the supply of crude oil and distillate fuel reduced in the last week leading the US inventories to have reduced store.

For January the crude oil rates have already risen to $98.18 a barrel at the New York Mercantile Exchange. The closing price was $99.29 on Nov. 21.