Oil prices again threaten US$100 mark

NEW YORK - Oil prices rose sharply overnight, once again approaching US$100 a barrel as futures drew strength from a declining dollar and news of refinery problems.

Oil futures, which offer a hedge against a weak dollar, picked up momentum as the greenback fell to a new low against the euro.

Light, sweet crude for January delivery rose US$2.68 to US$97.32 a barrel on the New York Mercantile Exchange.

- AP