WTI hits record $85.35 per barrel

West Texas Intermediate Crude oil for November delivery was at a new record high of $85.35 per barrel at 12:30 p.m. Eastern Daylight Time Monday, the fifth day in a row that the benchmark price has risen.

The gains prompted Citigroup analysts to say that it is now a reasonable supposition that oil will make at attempt to reach the $90 per barrel level.

Meanwhile, Brent crude added 94 cents to $81.49 per barrel on the Intercontinental Exchange in London.

Prices were higher on investor buying of both oil and metals and on continuing tensions between Turkey and Kurdish-controlled northern Iraq.

In addition, the Organization of Petroleum Exporting Companies issued a report Monday in which it raised its prediction for oil demand for the upcoming winter.

At last report, Nymex November gasoline was 5 cents higher to $2.14 per gallon, while December heating oil had added 4 cents to $2.30 per gallon and January natural gas was up 23 cents to $8.28 per million British thermal units.