January 02, 2013 at 15:51 PM EST
Oil Hits 11-Week High Amid Many Sighs Of Relief
Oil prices rose to near-11-week highs Wednesday, joining in a cross-market new year rally after Congress approved a deal to avert the dreaded fiscal cliff. February Brent crude rose 75 cents to $111.86 a barrel at 11:09 a.m. ET. The contract reached $112.90, its highest point since October. February U.S. crude jumped $1.28 to $93.10 a barrel, regaining the 200-day moving average of $91.90. Lawmakers on Tuesday approved a deal to prevent huge
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