Crude oil closes at record high of 96.70 dollars

    NEW YORK, Nov. 6 (Xinhua) -- Crude oil futures closed up 2.72 dollars at a new record closing high of 96.70 dollars a barrel on the New York Mercantile Exchange on Tuesday.

    According to forecasts, U.S. crude inventories will fall for a third week.

    The dollar touched a new low against the euro, boosting the value of oil as an alternative investment, analysts said.

    Crude futures touched a new intraday high of 97.10 a barrel earlier.