NYMEX-U.S. crude rises on hopes for U.S. debt deal
TOKYO, Oct 16 (Reuters) - U.S. crude futures edged higher in early Asian trading on Wednesday after a U.S. Senate source said Senate leaders could announce a deal within hours to raise the debt limit and re-open the government.
* NYMEX crude for November delivery rose 12 cents to $101.33 a barrel by 0020 GMT.
* Crude settled down $1.20 at $101.21 on Tuesday after credit rating agency Fitch warned that it could cut the U.S. sovereign credit rating from AAA.
* London Brent crude for November delivery, which expires on Wednesday, was up 2 cents, at $109.98 a barrel, after settling down $1.14 on Tuesday.
* Democratic and Republican leaders in the U.S. Senate could announce a deal late on Tuesday to extend the government's borrowing authority until Feb. 7 and quickly re-open federal agencies that have been closed since Oct. 1, a Senate aide said.
* Fitch Ratings warned on Tuesday it could cut the sovereign credit rating of the United States from AAA, citing the political brinkmanship over raising the federal debt ceiling.
* Stop-start negotiations to end the U.S. fiscal impasse left congressional leaders and President Barack Obama desperately searching on Tuesday for a way to reopen the government and raise the country's debt limit ahead of a Thursday deadline.
* World powers will press Iran on Wednesday for details of its proposal on resolving their decade-old nuclear dispute during a second day of talks in Geneva.
* 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.
* The American Petroleum Institute will release oil inventory data on Wednesday at 2030 GMT, delayed one day due to the Columbus Day holiday.
* Due to a government shutdown, the U.S. Energy Information Administration will not release weekly oil and natural gas inventory data this week for the first time since 1979 due to a lack of government funding.
* U.S. stocks fell in a volatile session on Tuesday as the impasse over the debt ceiling in Washington continued with no sign of progress toward a resolution.
* The dollar edged higher against the yen in Asia on Wednesday after a U.S. Senate source said Senate leaders could announce a deal within hours to raise the debt limit and re-open the government.
The following data is expected on Wednesday: (Time in GMT)
0900 Euro zone Eurostat trade
0930 India M3 money supply
1400 U.S. NAHB housing market index
2030 U.S. API weekly crude stocks
2030 U.S. API weekly dist. stocks
2030 U.S. API weekly gasoline stk
(Reporting by Yuka Obayashi; Editing by Richard Pullin)