Price of oil rises as fiscal cliff consensus appears close
APNEW YORK--Oil prices rose Monday as U.S. political leaders moved toward averting the fiscal cliff just hours before the deadline.
January 2, 2013, 12:02 am TWN
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.