The benchmark crude for March delivery climbed 75 cents to $ 79.81 a barrel on the New York Mercantile Exchange. The price of the March contract, which expires Monday, rose by 12% since February 5.
M1000ost of the transactions have already been moved to the April contract, which rose 64 cents Friday to 80.06 dollars a barrel.
In London, Brent North Sea rose 41 cents to $ 78.19 on the ICE.
The oil bull run happens even though the U.S. is still mired in large quantities of supplies.
Reports of growth in house building, industrial and manufacturing production have increased confidence between investors who believe that Americans will regain their appetite for fossil fuels during the second half.
energy prices fell earlier in the day after the announcement on Thursday that the Fed Federal increase the rates banks have to pay for emergency loans.
The dollar rose to its highest level since May after the announcement. And crude, priced in dollars, tends to reduce the price if the dollar moves and causes the barrels are more difficult for investors to buy foreign money.
Announcement of the Fed was done after a Labor Department report announcing that prices paid by consumers, excluding food and energy, fell in January for the first time since December 1982.
In other Nymex market quotations for delivery in March heating oil rose 1.83 cents to $ 2.0699 a gallon, and gasoline added 1.65 cents to 2.0857 a gallon. Natural gas fell 12.8 cents to $ 5044 per 1,000 cubic feet.
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