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Oil jumps as US lawmakers avert "fiscal cliff"

By , on January 2nd, 2013

<!– google_ad_section_start –> HONG KONG (AP) — Oil prices rose sharply Wednesday after U.S. lawmakers passed legislation to avoid a “fiscal cliff” that would have push the world’s biggest economy into recession. The U.S. House of Representatives voted near midnight to send the bill to President Barack Obama after a frantic day of political brinksmanship in Washington. Benchmark oil for February delivery rose 74 cents at midday Hong Kong time to $92.56 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose $1.02 to finish at $91.82 per barrel in New York on Monday

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Oil jumps as US lawmakers avert "fiscal cliff"

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