Markets

Oil Futures Advance, Settle Above $87

Crude oil futures settled higher Monday, gaining from ongoing tensions in the Middle East as well as from some optimism that Washington will reach a budget deal before a year-end deadline, MarketWatch reported.

Crude for January delivery rose 47 cents, or 0.5%, to $87.20 a barrel, though it closed off stronger levels.

U.S. budget negotiations appeared to have accelerated Monday, as President Barack Obama and House Speaker John Boehner met at the White House following a new offer from Boehner on taxes and the U.S. debt ceiling.

Crude oil futures on Friday rose 1%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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