Mumbai: Crude oil prices rose to a fresh peak near $106 helped by a weak dollar and supply worries arising from OPEC's decision to leave production unchanged.

COMEX futures in New York rose to around $995 an ounce, and Tokyo's platinum futures hit a new peak before ending lower on profit taking.

US light crude for April delivery, which hit $105.96 a barrel, was trading around $1.05 higher at $105.57 in late morning trade.

London Brent crude set a new record of $102.95 and was trading 84 cents higher at $102.48 later.

The US, which saw its crude and product stocks fall 4.5 million barrels against the average seasonal drop of 3.3 million barrels, made a call to OPEC to hike production to tame prices.

OPEC, however, decided to leave its output unchanged. The oil producer group also decided to meet next in September and could confer informally at a conference between consumers and producers in Rome on April 20-22.

Tensions in Venezuela, which deployed tank and air and sea forces towards the Colombian border on Wednesday, provided further support to the market.

Gold also zoomed to another record high nearing $1,000 an ounce as the dollar held on to its all-time low against the euro. The dollar also fell to a record low against the Swiss franc.

Speculative buying also lifted spot gold to a high of $991.90 an ounce from the previous New York close of $985.70/986.50.

In Mumbai where the market remained closed today, standard gold (99.5 purity) held on to the previous day's level of Rs12,590 per 10 gm while gold (99.9 purity) held at Rs12,640 per 10 gm.