Oil Edges Higher as U.S. Debt-Ceiling Talks Outcome Awaited

0102 GMT — Oil edges higher in the early morning Asian session as traders await resumption of the U.S. debt-ceiling talks between President Biden and House Speaker McCarthy later Monday after negotiations had hit an impasse. The debt-ceiling headlines are seemingly giving a source of volatility, NAB says in a market-research report. Market participants also continue to digest implications from the biggest weekly decline in U.S. oil rigs since September 2021, NAB adds, noting data from oil-field services company Baker Hughes. Front-month WTI crude oil futures are 0.1% higher at $71.60/bbl while front-month Brent crude oil futures are also up by 0.1% at $75.68/bbl. (ronnie.harui@wsj.com)