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Oil ends higher, above $86 a barrel

The price of oil rose Friday as legislators began postelection talks on how to avoid the so-called fiscal cliff, and a report showed Americans' view of the economy is improving.

On the New York Mercantile Exchange:

Benchmark crude rose 98 cents to finish at $86.07 per barrel.

Gasoline rose 9.19 cents to end at $2.6992 a gallon.

Heating oil rose 5.01 cents to finish at $3.0055 a gallon.

Natural gas fell 10.5 cents to end at $3.5030 per 1,000 cubic feet.

On the ICE Futures exchange in London:

Brent crude rose $2.15 to finish the day at $109.40 per barrel.

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