Benchmark crude for February delivery fell $1.47 to finish at $88.66 per barrel in New York, the contract's lowest point in three weeks. It dropped to $87.96 per barrel at one point Friday.
Late Thursday House Republicans abruptly put off a vote on an alternative plan offered by House Speaker John Boehner that would prevent scheduled tax increases from taking effect on Jan. 1 on all income under $1 million. President Barack Obama wants the cutoff point to be $400,000.
On Friday both signaled that talks are still open.
Brent crude, used to price international varieties of oil, fell $1.23 to end at $108.97 per barrel in London.
In other energy futures trading on the New York Mercantile Exchange:
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Natural gas lost a penny to finish at $3.45 per 1,000 cubic feet.
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Heating oil fell 4 cents to end at $3.02 a gallon.
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Wholesale gasoline fell 2 cents to finish at $2.73 a gallon.
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