Crude oil prices mixed

Last Updated on Tuesday, 30 November 1999 05:00 Wednesday, 27 July 2011 10:39

LONDON (AFP) - Crude oil prices were narrowly mixed on Tuesday, with sentiment muted amid a budget standoff in Washington over a plan to avoid a debt default.

New York s main contract, light sweet crude for delivery in September, advanced by just 14 cents to $99. 34 a barrel.

Brent North Sea crude for September eased seven cents to $117. 87 in London deals.

Investors (are) keeping to the sidelines as Washington debates the debt ceiling, analysts from Phillip Futures said in a commentary. The United States is meanwhile the world s biggest consumer of oil.

The US treasury says Congress must raise the government s $14. 29 trillion debt limit by August 2 to prevent a default, which would have devastating repercussions on the global economy.

Courtesy: Nation