Oil Drops on US Shutdown Forecasting Lower Fuel Consumption

West Texas Intermediate fell a third day as the U.S. government began its first partial shutdown in 17 years, threatening to slow the economy and curb fuel use.
Futures dropped as much as 0.8 percent after after lawmakers failed to approve a funding bill. No further negotiations were immediately planned and both sides still disagree over raising the nation’s debt ceiling to avoid a first-ever default after Oct. 17. A government report tomorrow may show crude supplies rose last week as refineries idled units for seasonal maintenance, according to a Bloomberg survey.

via Bloomberg

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