The price of crude rose this morning, following stock markets in Asia higher hours ahead of a last-ditch effort in Washington for political leaders to strike a budget deal before the year-end deadline.
Benchmark crude for February delivery rose 40 cents midday Bangkok time to $91.27 per barrel in electronic trading on the New York Mercantile Exchange.
The contract fell Thursday following a reported drop in US consumer confidence.
There was growing pessimism that President Barack Obama and Republican lawmakers will reach a compromise on ways to avoid the so-called fiscal cliff - hundreds of billions of dollars in government spending cuts and tax increases that take effect automatically in 2013 unless lawmakers act.
Hopes that a compromise might be reached were raised after Obama, who cut his Hawaii vacation short, invited congressional leaders to the White House for talks Friday.
