Oil closed settled above US$90 a barrel on the Nymex for the first time in two months Thursday as it tracked an upward move in U.S. stock markets. Brent crude dipped to US$110.20 per barrel in London.
A likely pre-Christmas deal to avert the “fiscal cliff” was deferred as budget talks in Washington reached a partisan standoff. Without a deal, the amount of spending cuts and tax hikes that will take effect could throw the U.S. economy back into recession, leading to decreasing energy demand.
21-Dec-12 
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