Poor manufacturing data for the world’s two largest economies pushed US oil prices lower Monday as traders shrugged off news of a breakthrough deal to raise the US debt ceiling and fretted instead about the health of the global economy. Crude futures had initially rallied on news of a weekend deal in Washington to raise the debt ceiling by an Aug. 2 deadline and avert a potentially cataclysmic US default. Congress was expected to vote on the agreement on Monday evening (related).
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