Positive sentiment on Wall Street and dollar weakness boost crude prices By Polya Lesova, MarketWatch FRANKFURT (MarketWatch) -- Oil futures rose above $86 a barrel on Friday, as indications of a higher opening on Wall Street and U.S. dollar weakness boosted sentiment in the energy market. Crude oil for May delivery gained 81 cents, or 1%, to $86.20 a barrel in electronic trading on Globex. It earlier hit an intraday high of $86.45 a barrel. Oil prices finished slightly lower on Thursday, falling for a second consecutive session, after data showing a rise in U.S. jobless claims dimmed optimism about the pace of the economic recovery. "Supported by benign equity markets, sustained bullish sentiment and a slightly weaker U.S. dollar, the oil price recouped the losses of the previous two days and traded above $86 a barrel this morning," said analysts at Commerzbank AG in a note to clients. U.S. stock futures edged higher on Friday, as traders awaited data on wholesale inventories that's due at 10 a.m. Eastern time. The dollar index (DXY 81.38, -0.16, -0.19%) , which tracks the performance of the greenback against a basket of other major currencies, fell 0.3% to 81.272. A decline in the value of the greenback usually boosts dollar-denominated commodities such as oil, because it makes them cheaper for holders of other currencies. Energy prices are likely to close out the week on a subdued note given the thin macroeconomic calendar, said Edward Meir, senior commodity analyst at MF Global. "We look to next week to see whether prices can make a renewed stab at breaking towards new highs, or if the fund crowd, who are predominantly long, tire of the price stall and look to pare some length," Meir wrote in a note to clients.

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