BANGKOK (AP) - Oil jumped above $87 a barrel today in Asia, reaching its highest since early May, as the Federal Reserve's plan to buy $600 billion of Treasury bonds to stimulate the U.S. economy continued to send a tide of cash into stocks and commodities.
Benchmark crude for December delivery was up 37 cents at $86.86 a barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange after earlier reaching $87.22. The contract climbed $1.80 to settle at $86.49 on Thursday.
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