New York's main contract, West Texas Intermediate for delivery in November inched up to US$103, while Brent North Sea crude for November eased to US$109.5. As the US standoff enters its eighth day on Tuesday with no end in sight, investors are worried about the knock-on effect for demand in the world's top oil consumer. A tropical storm passed without major damage to energy infrastructure in the Gulf of Mexico, leading to shut down of about 62% of the region's oil production ahead of the storm.
Concerns continue to run high as investors are also looking ahead to the October 17 deadline when the debt ceiling has to be raised or risk a default on US debt. Failure to lift the debt limit will mean the government is unable to pay its bills or service its debts, causing a default that analysts have warned could send the world economy back into recession.
09-Oct-13 
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