Oil rises as U.S. stockpiles unexpectedly fall

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Source: Bloomberg
© Scanpix/Ap
Oil rose in New York as U.S. stockpiles unexpectedly fell and the fiscal cliff is expected to be avoided in the world's biggest oil consumer. Futures rose 0.5% after declining 0.8% yesterday to a 2-week low, while Crude for January settlement gained 40 cents to $86.89 a barrel in New York and was at $86.89 a barrel at 3:04 p.m. in Singapore. Brent for January delivery rose 20 cents to $109.71 a barrel. 
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