The price of oil jumped Wednesday on the first day of trading in the New Year, following stocks higher after Washington averted the dreaded "fiscal cliff."
On the New York Mercantile Exchange:
— Benchmark crude rose $1.30 to finish at $93.12 a barrel.
— Wholesale gasoline rose 3 cents to end at $2.80 a gallon.
— Heating oil added a penny to finish at $3.05 a gallon.
— Natural gas fell 12 cents to end at $3.23 per 1,000 cubic feet.
On the ICE Futures exchange in London:
Brent crude, used to price various kinds of international oil, finished up $1.36 at $112.47 a barrel.
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- New York Mercantile Exchange