No major progress was reported after contentious talks in Washington on Thursday, with Republican House Speaker John Boehner rebuffing a proposal by President Barack Obama because it lacked "sensible spending cuts." But it is widely expected that a compromise will be reached before the deadline.Benchmark oil for January delivery was down 35 cents to $87.72 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose $1.58 to close at $88.07 on Thursday on the Nymex.
Asia Stocks Rise On US Data, Budget Talks
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