NEW YORK, Nov 6 (Reuters) - The dollar sank to record lows against the euro and a basket of currencies on Tuesday amid renewed credit concerns, while oil prices jumped to lifetime highs due to tight fuel stocks.

The surge in oil prices heightened concerns about the U.S. economy, prompting bids into safe-haven Treasury bonds and making U.S. stocks pare some gains.

Concerns about more credit losses among financial services companies also weighed on sentiment.

Throughout the banking system there is a real belief that a lot of U.S. banks haven't come clean yet on what their exposures are to this subprime fall-out and as a result, the view is that the Fed will have to cut rates again at the December meeting, said Greg Salvaggio, senior currency trader at Tempus Consulting in Washington.

The euro rose as high as $1.4571 against the dollar, according to Reuters data, its highest level since its 1999 launch. It was last trading at $1.4556, up 0.7 percent on the day.

The dollar index, which tracks the greenback's performance against a basket of six major currencies, dipped to 75.986, the lowest in its more than 30-year history. It was last at 76.024, down 0.5 percent on the session.

The greenback came under renewed pressure due to expectations the U.S. Federal Reserve might cut interest rates again, lowering the yield the currency offers.

Interest rate markets see a more than 60 percent chance of another Federal Reserve interest rate cut in December.

U.S. stocks, on the other hand, erased gains as a brokerage's dour view of Microsoft Corp weighed on technology shares, while investors worried record crude oil prices could squeeze consumers and corporations.

The Dow Jones industrial average was up 10.24 points, or 0.09 percent, at 13,556.81. The Standard & Poor's 500 Index was up 3.13 points at 1,505.30. The Nasdaq Composite Index was down 4.25 points, or 0.1 percent, at 2,792.90.

In the oil market, U.S. crude oil futures rose more than three dollars on Tuesday, reaching a record high $97 a barrel amid a weaker dollar and as supply concerns highlighted by expectations that domestic crude supply slipped last week.

If people start noticing going into the Christmas season they're going to have to spend more at the pump, it might not be a good thing, said Tom Schrader, managing director of U.S. equity trading at Stifel Nicolaus Capital Markets in Baltimore, Maryland.

I think you're going to continue to see weakness in the financials until we get a sense the subprime and loan debacle at all of these money-center banks and brokerage firms has run its course, Schrader said.

The FTSEurofirst 300 index was up 0.3 percent, helped by gains in mining shares, but with financials again weaker as investors treated the sector with suspicion following a Citigroup announcement earlier this week that it may write off $11 billion of subprime mortgage losses.

MSCI main world equity index 0.6 percent, after hitting a 1-1/2 week low on Monday.

Emerging sovereign spreads tightened 3 basis points, while stocks were up 1.3 percent, supported by firmer commodity prices.

In the U.S. Treasury market, the benchmark 10-year note's price was up 1/32 for a yield of 4.33 percent , compared with 4.34 percent late on Monday. Bond yields and prices move inversely.

Gold , meanwhile, surged to $820 an ounce, its highest level in 28 years, drawing support from strong oil prices, dollar weakness and safe-haven buying.

(Additional reporting by Lucia Mutikani, Ellis Mnyandu, Robert Gibbons, and John Parry; Editing by Chizu Nomiyama)