Oil ends higher, above $87 a barrel

The Associated Press

The price of oil rose Wednesday afternoon following the announcement of a cease-fire agreement to end a week of fighting between Israel and Hamas militants.

On the New York Mercantile Exchange:

Benchmark crude rose 63 cents to finish at $87.38 per barrel.

Gasoline rose 3.7 cents to end at $2.7495 a gallon.

Heating oil rose 3.3 cents to finish at $3.0722 a gallon.

Natural gas rose 7.1 cents to end at $3.9030 per 1,000 cubic feet.

On the ICE Futures exchange in London:

Brent crude rose $1.03 to finish the day at $110.86 per barrel.