Oil prices rose on Monday amid optimism that the U.S. government shutdown will soon end, boosting demand in the world’s largest oil consumer and offsetting concerns over global supply growth.
Brent crude futures increased by 47 cents, or 0.74%, to $64.10 per barrel, while U.S. West Texas Intermediate crude rose by 50 cents, or 0.84%, to $60.25 per barrel. The end of the historic U.S. government shutdown, now in its 40th day, appears within reach as the Senate moves toward a vote to reopen the federal government.
