U.S. crude futures up $2 on budget optimism, Middle East tension

NEW YORK Thu Nov 29, 2012 9:34am EST

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NEW YORK Nov 29 (Reuters) - U.S. crude futures rose $2 on Thursday, after three straight lower settlements, on optimism that a U.S. budget deal can be reached and concerns about oil supply disruptions over increasing tensions in the Middle East.

U.S. January crude futures were up $1.92 at $88.41 a barrel at 9:30 a.m. EST (1430 GMT), after gaining $2 to reach $89.49. (Reporting by Robert Gibbons; Editing by Grant McCool)

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