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At a glance: Oil rises on improving economic news

Published on NewsOK Modified: November 29, 2012 at 4:10 pm •  Published: November 29, 2012

The price of oil rose Thursday on an improved outlook for U.S economic growth while lawmakers continued their tussle over solutions to avert a "fiscal cliff."

On the New York Mercantile Exchange:

Benchmark crude rose $1.58 to close at $88.07.

Heating oil rose 3 cents to $3.04 a gallon

Natural gas fell 15 cents to $3.65 per 1,000 cubic feet

Wholesale gasoline gained 5 cents to $2.79 a gallon

On the ICE Futures Exchange in London:

Brent crude, which is used to price international varieties of oil, rose $1.25 to $110.76 per barrel