SINGAPORE: Crude was up in Asian trade Friday as a weaker dollar spurred investor buying interest, analysts said.
New York's main contract, light sweet crude for delivery in May, rose 38 cents to $108.49 a barrel.
Brent North Sea crude for May delivery gained 42 cents to $122.42.
"US crude oil rallied as a weaker dollar offset worries that surging prices would erode demand," analysts from Singapore-based Phillip Futures said in a commentary.
A weak US currency makes dollar priced commodities including crude futures cheaper for other currency holders.
The euro was trading at $1.449 in morning Asian trade, up from $1.4486 in late US trade Thursday.
News that fresh US jobless claims rose an unexpected 27,000 to 412,000, snapping falls seen in recent weeks, weighed on the greenback.
The seeming reluctance of the Federal Reserve to put up interest rates also contributed.
"Weaker than expected US data and mostly dovish comments from Federal Reserve officials reminded investors of the reasons why they do not want to own dollars," said Kathy Lien of Global Forex Trading.
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