NEW YORK (Bloomberg) — Crude oil fell from a record $111 a barrel in New York on signs that the rally in energy prices can't be sustained because oil and gasoline supplies are rising.

US crude-oil stockpiles gained more than analysts forecast last week, the Energy Department said yesterday, as gasoline supplies jumped to the highest since 1993. Oil futures climbed to records earlier yesterday after the dollar fell below 100 yen for the first time since 1995 and dropped to a low against the euro.

"We are waiting for the fundamentals of the physical market to pop this financial bubble; the only question is when it will occur," said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts. "Gasoline supplies are at a 15-year high, which can't be ignored forever."

Crude oil for April delivery fell 79 cents, or 0.7 percent, to $109.13 a barrel at 1.17 p.m. on the New York Mercantile Exchange. Futures rose to $111 a barrel, the highest since trading began in 1983. Prices are up 89 percent from a year ago.