NEW YORK (AP) -- Oil prices hit a two-year high Friday after the U.S. government said the unemployment rate fell to 8.9 percent in February.
The Labor Department said the economy added 192,000 jobs last month. That suggests more people will be commuting at a time when world oil supplies are under pressure because of the crisis in Middle East.
Benchmark West Texas Intermediate crude for April delivery gained $1.27 to $103.17 per barrel in New York. The price jumped to $103.57 per barrel earlier in electronic trading, the highest since Sept. 29, 2008.
