Slight increase: People walking past an Opec logo during a climate change conference. Opec has agreed to increase output slightly in December, but it also paused further hikes in the first quarter, wary of a supply glut. —Reuters
SINGAPORE: Oil prices rose yesterday on optimism that the US government shutdown may end soon and lift demand in the world’s top oil consumer, offsetting concerns about rising supplies globally.
Brent crude futures rose 47 US cents, or 0.74%, to US$64.10 a barrel, while West Texas Intermediate crude (at press time) was at U$60.25 a barrel, up 50 US cents, or 0.84%.
