NEW YORK – Oil is rising for a second day on the back of the Federal Reserve's aggressive plan to boost the US economy. At one point oil topped $100 per barrel for the first time since May. Traders Friday also kept a close eye on unfolding unrest in the Middle East. The Fed Wednesday unveiled an open-ended program to buy bonds and pledged to keep interest rates low into 2015. The goal is to boost the sluggish economy and get businesses hiring at a more robust pace. Benchmark oil rose $1.42 to $99.73 per barrel in morning trading in New York. Brent crude gained $1.70 to $117.58 in London. At the pump, the average price for a gallon of gas was flat at $3.87. The Federal Reserve's aggressive new plan to spark the US economy lit a fire under risk assets Friday, sending global stocks to a 13-month high and driving the dollar to a more than four-month low against the euro. – Agencies
