Oil drops below $89 a barrel
Oil prices fell as much as $2 a barrel Friday as doubts grew about whether political leaders in Washington could reach a deal on the budget before a package of tax hikes and spending cuts automatically kicks in with the new year.
On the New York Mercantile Exchange:
Benchmark crude fell $1.47 to finish at $88.66 per barrel.
Gasoline fell 1.96 cents to end at $2.7347 a gallon.
Heating oil fell 3.51 cents to finish at $3.0224 a gallon.
Natural gas fell 1.1 cents to end at $3.4510 per 1,000 cubic feet.
On the ICE Futures exchange in London:
Brent crude fell $1.23 to finish the day at $108.97 per barrel.