NEW YORK (CNNMoney) -- Oil prices settled at a two-and-a-half-year high Thursday, rising 2.4% to end near $107 a barrel, as the U.S. dollar weakened and turmoil in the Arab world continued to stoke supply concerns.
The main U.S. oil contract, West Texas Intermediate, for May delivery added $2.45 to end at $106.72 a barrel. Brent crude, the European benchmark, rose $2.12 to $117.25 a barrel.