Updated on
Summary Oil prices rose above $99 a barrel Tuesday in Asia as talks among US leaders made little progress.
Oil prices hovered above $99 a barrel Tuesday in Asia as talks among US leaders made little progress ahead of next weeks deadline to raise the government debt limit.Benchmark oil for September delivery was up 23 cents to $99.43 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. Crude lost 67 cents to settle at $99.20 on Monday.In London, Brent crude slid 29 cents to $117.65 per barrel on the ICE Futures exchange.Republican and Democratic leaders rejected each others government spending and debt proposals Monday as an Aug. 2 deadline looms for Congress to raise the governments $14.3 trillion debt limit.
