Oil rises near $100, while pump prices fall again

Salim Sabbagh pumps gas that is priced at $4.05 a gallon for regular unleaded ,at a gas station in Paterson, N.J., Monday, June 16, 2008. Crude oil futures swung wildly on Monday, rising to a record and then tumbling as investors wrestled with whether they should put stock in Saudi Arabia's promise to boost production. Retail gas prices rose to a record $4.08 a gallon. (AP Photo/Mike Derer)

May 24, 2011 1:11:19 PM PDT
Oil rose close to $100 per barrel Tuesday after the dollar weakened and a trio of major investment banks predicted that prices will rise later this year.