NEW YORK, Oct. 18 (Xinhua) -- Oil prices surged to a record 89.47 dollars on Thursday as the falling dollar drew new foreign investors and speculators to dollar-denominated energy futures.
Crude for November delivery finished up 2.07 dollars at 89.47 dollars a barrel on the New York Mercantile Exchange, after reaching a new all-time trading high of 89.78 dollars.
The dollar sank to new historical lows against the euro after a jump in weekly jobless claims and as Bank of America's disappointing third-quarter results revived concerns about the impact of the credit crisis.
Traders also eyed Northern Iraq, after the Turkish parliament on Wednesday authorized military incursions to hunt down Kurdish rebels.
Crude for November delivery finished up 2.07 dollars at 89.47 dollars a barrel on the New York Mercantile Exchange, after reaching a new all-time trading high of 89.78 dollars.
The dollar sank to new historical lows against the euro after a jump in weekly jobless claims and as Bank of America's disappointing third-quarter results revived concerns about the impact of the credit crisis.
Traders also eyed Northern Iraq, after the Turkish parliament on Wednesday authorized military incursions to hunt down Kurdish rebels.
