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Crude oil price surpassed $90 per barrel for the first time after the dollar traded near a record low against the euro enhancing the appeal of commodities as an investment. With crude oil prices crossing $90 a barrel, the White House said Friday that President Bush would like to see prices lower.

Investors are being drawn to energy futures as a hedge against the weakening U.S. dollar. That, plus worries

over tensions between Turkey and Kurdish rebels in northern Iraq, has lifted crude oil prices to new records for five straight days. At the same time, the White House played down the $90 mark. “There’s no magic to any particular number like $90 a barrel, but obviously we would prefer oil prices lower,” said deputy press secretary Tony Fratto.

“The president certainly would like to see the price of oil lower and would like to see us rely less on foreign sources of oil and reduce our dependence on all forms of oil,” Fratto said. He called on Congress to enact Bush’s program to expand the use of alternative fuels and cut gasoline use by 20 percent in 10 years.