Oil hovered near $102 a barrel Monday amid alternating hope and uncertainty about the looming deadline for U.S. lawmakers to reach an agreement over the government’s borrowing limit and shutdown.
Benchmark crude for November delivery was up 35 cents to $102.37 a barrel in midday trading in New York. The contract traded below $102 for much of the morning but rose along with the U.S. stock market around midday.
Brent crude, the benchmark used to price international crudes used by many U.S. refineries, was down $1.03 to $110.25 per barrel in London.
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