President Barack Obama and House Speaker John Boehner met at the White House on Monday in hopes of making more progress toward avoiding the "fiscal cliff," a combination of spending cuts and tax increases that go into effect on Jan. 1.
The meeting came after Boehner on Friday offered to raise taxes on some wealthy earners — but only if Obama agrees to cuts in benefit programs.
Benchmark crude rose 47 cents to close at $87.20 on the New York Mercantile Exchange.
Brent crude, which is used to price international varieties of oil, fell 54 cents to $107.64 on the ICE Futures Exchange in London.
Prices at the pump dropped 4 cents over the weekend to an average of $3.25 a gallon, the lowest level this year. That's still a penny more than a year earlier, but 17 cents cheaper than a month ago.
In other trading on the Nymex:
— Heating oil fell 2 cents to $2.96 a gallon.
— Natural gas rose 4 cents to $3.36 per 1,000 cubic feet, its first gain in 8 trading sessions.
— Wholesale gasoline fell less than a penny to close at $2.65 a gallon.