Crude oil prices held above $98 per barrel Thursday morning as critical budget discussions in Brussels and Washington continued.
The latest plan from Europe calls for Greece to accept selective default for its second round of international aid, The Wall Street Journal reported.
In Washington, President Barack Obama said he would accept a short term deficit reduction deal in order to raise the government's debt ceiling if it was tied to a long-term proposal.
West Texas Intermediate crude oil added 29 cents to reach $98.69 per barrel, prices holding up after the Energy Information Administration said stockpiles of crude oil fell by 3.7 million barrels in the week ending last Friday.
Home heating oil prices shed 0.51 cents to $3.1269 per gallon. Reformulated blendstock gasoline prices lost 1.8 cents to $3.0766 per gallon.
Henry Hub natural gas prices rose 2.2 cents to $4.522 per million British thermal units.
At the pump, the national average price of unleaded gasoline rose to $3.689 per gallon Thursday from Wednesday's $3.684, AAA said.