By Sarah Turner SYDNEY (MarketWatch) -- Benchmark light sweet crude-oil futures edged higher in Nymex electronic trading on Tuesday, up 26 cents at $99.46 a barrel. The gains followed a speech by U.S. President Barack Obama on the current debt standoff in the U.S. Obama said that he's confident that lawmakers will reach an agreement on the debt ceiling by the Aug. 2 deadline, a situation which would likely support demand for oil.

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