October 3, 2013 12:19 PM

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US shutdown: Investors fret over impact on oil demand; Asia crude slips

Oil prices slipped in Asian trade today as investors fretted about the impact on oil demand as lawmakers in Washington look unlikely to reach an early agreement to end the US government shutdown. New York's main contract, West Texas Intermediate for delivery in November, fell 41 cents to 103 dollars and 69 cents in mid-morning trade, while Brent North Sea crude for November eased 27 cents to 108 dollars and 92 cents.Prices were also pressured after the US Department of Energy reported that supplies increased by 5.5 million barrels last week, far higher than expectations of a 2.1 million barrel rise, indicating weaker demand.

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