LONDON: Oil prices climbed $1 on Monday after suffering losses at the end of last week, as investors’ focus returned to a tight global supply outlook while a last-minute deal that avoided a US government shutdown restored some risk appetite.
Brent December crude futures rose $1.04 to $93.24 a barrel by 1124 GMT after falling 90 cents on Friday. Brent November futures had settled 7 cents lower at $95.31 a barrel at the contract’s expiry on Friday.
US West Texas Intermediate crude futures pared gains that had lifted the contract by more than $1 and were last 96 cents higher at $91.75 a barrel after losing 92 cents on Friday.
