Oil Futures Continue to Rise, a New Record

Oil futures soared again Wednesday to a record above $94 a barrel amid the US report about unexpected drop in crude oil inventories and the Federal Reserve's cutting interest rates by a quarter point.

Light, sweet crude for December delivery rose $4.15 to settle at $94.53 a barrel on the New York Mercantile Exchange after rising as high as $94.74, a trading record.

Much of that decline was the result of a big drop in crude supplies at a closely watched oil terminal in the Midwest.