Oil Jumps On USD Decline

U.S. crude oil prices hit their highest level since December 1, 2008 after the the Federal Reserve announced plans to buy billions of dollars in government bonds. The subsequent decline in the U.S. dollar is rallying oil prices.

Crude oil for April is trading up $3.13 a barrel at $51.27.

On Wednesday the U.S. dollar posted it's largest one day decline since 1985.