Oil rises on fiscal deal optimism

Crude prices rose on Wednesday as investors were optimistic about a fiscal deal being reached soon in Washington. Light, sweet crude for January delivery added 1.58 dollars, or 1.80 percent, to settle at 89.51 dollars a barrel on the New York Mercantile Exchange.

Brent crude for February delivery also gained and last traded around 110 dollars a barrel.

We recommend:
'Boeing Dreamliner riddled with errors	The spending of China's rich	China to open world's longest high-speed railway
Christmas Wedding Expo closes in Hong Kong	Harbin-Dalian high-speed railway starts operation	New wave of communication tools
Alibaba's 2012 transaction volume hits 1 trln yuan	China's savings rate world's highest	IPhone 5 goes on sale in China