Brent Crude near $108 as Oil continues its Decline

Crude-oil futures continued to fall in Asian trade Wednesday on the partial U.S. government shutdown and ahead of U.S. oil data that are expected to show an increase in crude stockpiles.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in November traded at $101.58 a barrel at 0549 GMT, down $0.46 in the Globex electronic session. November Brent crude on London’s ICE Futures exchange fell $0.44 to $107.50 a barrel.

Oil has fallen for three straight sessions, with Nymex settling at its lowest since early July in overnight floor trade on concerns the U.S. government shutdown may curb oil demand as thousands of federal employees have been furloughed.


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