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The cost of oil has risen today, which was caused by the fact that investors about the prospects of the transaction on the budget.
Prices rose by 1%, after House Speaker John Boehner proposed to raise income tax rates of households whose income is more than $ 1 million a year in exchange for cost containment. Earlier, Boehner previously opposed the increase in the tax rates for all income levels. However, U.S. President Barack Obama, who is in favor of tax increases that started from the amount of income of $ 250,000, rejected the proposal.
Meanwhile, Republicans and Democrats in Congress are beginning to say that you may need to wait until January to reach a budget deal. Recall that the next two weeks to prevent automatic spending cuts and tax increases totaling more than $ 600 billion, which is also known as a "financial cliff", which is to begin in January. The Congressional Budget Office has stated, failure to prevent these changes could lead to a recession in the first half of 2013.
Prices also rose on speculation the Federal Reserve will keep interest rates low to stimulate the economy after data showed that manufacturing in the New York area in December fell more than expected.
January futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) rose to 87.36 dollars a barrel on the New York Mercantile Exchange.
January futures price of North Sea petroleum mix of mark Brent fell 17 cents to $ 108.11 a barrel on the London Stock Exchange ICE Futures Europe.
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