AP News

At a glance: Oil lower as 'cliff' concerns grow

The price of oil ended lower Thursday as doubts increased over political leaders' ability to strike a deal in budget negotiations.

On New York Mercantile Exchange:

— Benchmark crude lost 88 cents to end at $85.89 per barrel.

— Heating oil fell 2 cents to finish at $2.94 a gallon.

— Natural gas lost 4 cents to end at $3.35 per 1,000 cubic feet.

— Wholesale gasoline fell 4 cents to finish at $2.60 a gallon.

On the ICE Futures exchange in London.

— Brent crude, used to price international varieties of oil, dropped by $1.56 to end at $106.46 a barrel.

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