U. S. crude oil futures ended at a 10-month high Friday on economic optimism, as Wall Street gained sharply and the dollar weakened. U. S. equities climbed to their 2009 highs, fueled by better-than-expected sales of previously owned U. S. homes in July, adding to encouraging economic surveys in Europe

Federal Reserve Chairman Ben Bernanke said prospects for return to growth in the near-term appeared good in the United States and abroad, raising more recovery hopes

The spread between the current front month and the five-year forward crude contract ended at $13.19, narrowing from $13.66 on Thursday. The October 2014 contract settled on Friday at $87.08, up 71 cents, or 0.82 percent.

Hurricane Bill weakened slightly as it a followed a path between the U. S. East Coast and Bermuda. It was forecast to further weaken to a tropical storm before skirting eastern Canada later on Sunday, the U. S. National Hurricane Center said

Commodity market speculators lowered their holdings in energy related futures contracts as prices of crude oil, gasoline, heating oil and natural gas all fell sharply in the week ending Aug. 18.

Crude oil prices have given technical breakout on Friday on fundamentals front we don’t have much news flows supporting the prices but trend for the is “buy at dips” as optimism in financial markets may drive crude oil prices to $75 per barrel.