By Pamela Sampson, AP Energy Writer on December 3, 2012
BANGKOK (AP) — The price of oil rose hovered around $89 a barrel Monday as investors focused on signs that China's economy may be picking up after a prolonged slowdown.
Benchmark crude for January delivery was up 2 cents to $88.93 a barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 84 cents to close at $88.91 in New York on Friday.