Oil steady near US$131 in Asia on expectations storm cut Gulf of Mexico production

Oil prices held steady near US$131 a barrel Tuesday in Asia on expectations Tropical Storm Dolly won't disrupt oil operations in the Gulf of Mexico.

Royal Dutch Shell, Europe's biggest oil company, said Monday it was evacuating workers from oil rigs in the western part of the Gulf but didn't expect its production to be affected by the storm.

"The market doesn't see Dolly as a real threat at this point," said Victor Shum, an energy analyst with consulting firm Purvin & Gertz Inc. in Singapore. "It doesn't look like it will have much of an impact."

Midafternoon in Singapore, light, sweet crude for August delivery was down 1 …