NYMEX-U.S. crude rises, investors focus on U.S. budget impasse
TOKYO, Oct 9 (Reuters) - U.S. oil inched up in early Wednesday trade in Asia, tracking an overnight rise in New York, but the gain was limited as investors remained cautious as the U.S. budget impasse dragged on.
* NYMEX crude for November delivery had risen 18 cents to $103.67 a barrel by 0025 GMT. It earlier climbed to 103.70.
* Brent crude for November delivery climbed 4 cents to $110.20 a barrel.
* U.S. President Barack Obama urged U.S. House Speaker John Boehner to hold a simple vote to end the government shutdown and raise the nation's debt limit, saying international creditors look to Congress for reassurance about U.S. credit worthiness.
* Congress faces an Oct. 17 deadline to raise the $16.7 trillion borrowing limit in order to avert the risk of a default on U.S. debt.
* U.S. President Barack Obama will nominate Federal Reserve Vice Chairwoman Janet Yellen to be the next head of the U.S. central bank on Wednesday, a White House official said on Tuesday.
* U.S. crude stocks rose last week as refineries cut output, while gasoline and distillate inventories declined, data from industry group the American Petroleum Institute showed on Tuesday.
* U.S. commercial crude oil inventories were forecast to have risen last week, while distillate stockpiles were seen lower, an expanded Reuters poll of analysts showed on Tuesday.
* Oil and gas production in the U.S. Gulf of Mexico was nearly back to normal on Tuesday, the government said, after the threat of a storm prompted shut-ins late last week.
* U.S. stocks slid on Tuesday as traders cashed in gains in some of the year's best performers, while little progress was made to end a political crisis in Washington that could affect the U.S. fiscal standing and economic recovery.
* The U.S. dollar languished near a two-month low against the yen in Asia on Wednesday and stayed close to a recent eight-month trough on a currency basket with investors growing anxious as the U.S. budget impasse continued.
* The following data is expected on Wednesday: (Time in GMT)
0830 UK August Manufacturing, Industrial Output
1000 German August Industrial Output
1100 U.S. Weekly Mortgage Market Index
1430 U.S. EIA weekly crude stocks
1430 U.S. EIA weekly dist. stocks
1430 U.S. EIA weekly gasoline stk
N/A BOE Holds Policy Meeting
(Reporting by Yuka Obayashi; Editing by Michael Perry)