Oil prices rise as investors await US economic data

22-Oct-13
New York's main contract, West Texas Intermediate for delivery in November, inched up to US$100.9, while Brent North Sea crude for December rose to US$110. Prices have nudged higher as the market await long-delayed economic data from USA. US economic data delayed by the 16-day US government shutdown is expected to be released this week. "The US economic data that came out before the shutdown was quite lacklustre, and people will be watching this week's numbers to see whether they should go back into risk assets," Kelly Teoh, market strategist at IG Markets in Singapore, told AFP.
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