AP News

At a glance: Oil up on 'fiscal cliff' hope


The price of oil closed at its highest point in nearly a month Monday on rising concern about the Middle East and less worry about the U.S. "fiscal cliff."

On the New York Mercantile Exchange:

Benchmark crude rose $2.36, or 2.7 percent, to finish at $89.28 per barrel in New York.

Wholesale gasoline rose 4.44 cents to end at $2.7545 a gallon.

Heating oil gained 8.83 cents, or 3.2 percent, to finish at $3.0751 a gallon.

Natural gas fell 7.1 cents to end at $3.7190 per 1,000 cubic feet.

On the ICE Futures exchange in London:

Brent crude, which is used to price international varieties of oil, rose $2.75, or 2.5 percent, to finish at $111.70 per barrel in London.


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