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Oil ends higher, near $91 a barrel

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The Associated Press | December 26, 2012 03:05 PM EST | AP


The price of oil rose sharply on higher U.S. home prices and hopes of a budget deal in Washington.

On the New York Mercantile Exchange:

Benchmark crude rose $2.37 to finish at $90.98 per barrel.

Gasoline rose 6.52 cents to end at $2.8158 a gallon.

Heating oil rose 4.91 cents to finish at $3.0513 a gallon.

Natural gas rose 4.6 cents to end at $3.3920 per 1,000 cubic feet.

On the ICE Futures exchange in London:

Brent crude rose $2.27 to finish the day at $111.07 per barrel.