Oil prices down on US debt ceiling concerns
Singapore - QNA
Oil prices edged lower in Asian trade Monday on growing concerns the US budget crisis could spiral into a devastating debt default and ravage the global economy. New York's main contract, West Texas Intermediate for delivery in November fell 49 cents to $103.35 in afternoon trade, while Brent North Sea crude for November eased 35 cents to $109.11. The US government shutdown looks set to drag into day seventh on Monday, as a series of marathon talks between Democrats and Republicans in Washington failed to reach a resolution to the stand-off.
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