U.S. Markets open in 8 hrs 19 mins

Oil ends higher, near $89 a barrel

By The Associated Press

The price of oil rose Friday as traders weighed a new debt deal in Europe and political bickering in the U.S. over looming tax increases and budget cuts.

On the New York Mercantile Exchange:

Benchmark crude rose 84 cents to finish at $88.91 per barrel.

Gasoline was unchanged at $2.7303 a gallon.

Heating oil was unchanged at $3.0607 a gallon.

Natural gas fell 8.7 cents to end at $3.5610 per 1,000 cubic feet.

On the ICE Futures exchange in London:

Brent crude rose 47 cents to finish the day at $111.23 per barrel.