11:55AM EST: Oil Sets Sights On $100


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Oil prices flirted with $100 a barrel Wednesday, pushed higher by declining U.S. supplies, a falling dollar and refinery outages.

U.S. crude for January delivery rose 37 cents to $98.40 a barrel on the New York Mercantile Exchange, after setting a new intraday high of $99.29 a barrel in electronic trading overnight.