Crude oil futures end higher on Tuesday
US government shutdown appeared to be nearing an end and investors pondered over the impact of U.S. sanctions on Russian oil companies
Crude oil futures ended higher on Tuesday as the US government shutdown appeared to be nearing an end and investors pondered over the impact of U.S. sanctions on Russian oil companies. However, gains in crude prices remained capped as concerns about oversupply following OPEC+ production hike continued to make traders nervous.
Benchmark crude oil futures for December surged $0.91 or 1.51% at $61.04 a barrel on the New York Mercantile Exchange. Brent crude for January delivery increased $1.10 or 1.72% to settle at $65.16 a barrel on London's Intercontinental Exchange.
