Price of oil rises as fiscal cliff consensus appears close

Benchmark U.S. crude rose US$1.02 to finish at US$91.82 per barrel in New York. Oil has wavered in recent weeks along with the ups and downs of the budget negotiations. The price of oil finished December up about 3 percent from the start of the month.

It ranged from a low near US$77 a barrel to high around US$110 a barrel during the year.

Brent crude, used to price international varieties of oil, rose 49 cents to end at US$111.11 a barrel in London.

In other energy futures trading on the New York Mercantile Exchange:

Natural gas fell 12 cents, or 3.4 percent, to finish at US$3.35 per 1,000 cubic feet.

Wholesale gasoline rose 1 cent to US$2.81 a gallon.

Heating oil was flat at US$3.05 a gallon.

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