Oil rises above $97 after US debt deal reached
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Oil prices rose above $97 a barrel Monday in Asia after US lawmakers struck a last-minute agreement to raise the government's debt limit, avoiding a default.
Benchmark oil for August delivery was up $1.41 to $97.11 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. Crude dropped $1.74 to settle at $95.70 on Friday. (AP)
