Oil prices edged lower in Asian trade today as the United States faces a potentially devastating sovereign debt default after senators failed to end a budget impasse.New York's main contract, West Texas Intermediate for delivery in November was down 26 cents to 101.76 dollars. Brent North Sea crude for Novembereased 20 cents to 111.08 dollars.Investors are keeping a close eye on the US Senate as it tries to work out a deal to reopen the federal government and raise the country's borrowing limit before a October 17deadline.The government shut down on the first of this month has damaged domestic confidence and undermined America'sreputation as the world's leading economic superpower.