Price of Oil Hits Two-Year High as Dollar Falls

New York, NY, Nov. 5, 2010 -- Oil remained near $87 a barrel Friday after reaching a two-year high.

Benchmark crude for December delivery was up $0.35 at $86.84 a barrel in electronic trading on the New York Mercantile Exchange.

Earlier it reached $87.22, its highest point since Oct. 2008, largely on the declining value of the dollar.