At a glance: Oil rises on US budget deal optimism
At a glance: Oil gains on growing hopes of budget talk compromise
The price of oil rose Tuesday on a growing belief that political leaders in Washington may reach a compromise to head off the dreaded "fiscal cliff."
On the New York Mercantile Exchange.
— Benchmark crude finished up 73 cents at $87.93
— Heating oil rose 4 cents to $3 a gallon.
— Natural gas gained 6 cents to $3.42 per 1,000 cubic feet.
— Wholesale gasoline added 4 cents to $2.69 a gallon.
On the ICE Futures Exchange in London.
— Brent crude, which is used to price international varieties of oil, rose $1.20 to $108.84
