Oil, Other Commodities Slip As US Debt Limit Nears

Oil, Other Commodities Slip As US Debt Limit Nears

Prices for crude oil and other commodities are ending mostly lower as the U.S. approaches a deadline on reaching a debt deal with few signs of progress in Washington. Oil for November delivery fell $1.20 to close at $101.21 a barrel on the New York Mercantile Exchange. Other energy futures also fell.

Crude oil prices and other commodities have been swinging higher and lower as talks in Washington stagger along over raising the country's debt limit ahead of a Thursday deadline. Gold for December delivery edged down $3.40 to $1,273.20 an ounce. December silver fell 16.3 cents to $21.191 an ounce. December corn edged up 6.5 cents to $4.435 a bushel. December wheat fell 6.75 cents to $6.8575 a bushel and November soybeans fell 6 cents to $12.67 a bushel.

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