New York -- Crude oil prices topped $87 per barrel Friday, reaching a 24-month high on a combination of economic events.
The U.S. Federal Reserve Wednesday said it would buy $600 billion worth of long-term treasury bonds, an announcement that reverberated through equity markets Thursday and Friday. Asian markets were sharply higher Friday, although U.S. markets came back down to Earth posting modest gains after a surge Thursday.
On Friday, the Labor Department said the U.S. economy added 151,000 jobs in October.
The dollar index rallied, rising 0.94 percent, but oil prices ignored the gain and climbed, too.