Oil climbs as risk appetite grows, focus returns to supply outlook

Oil prices rose by $1 on Monday, rebounding from losses at the end of last week. The increase was driven by investors’ focus on the tight global supply outlook and a last-minute deal that avoided a US government shutdown. Both Brent and US West Texas Intermediate crude futures saw gains, with Brent rising to $93.24 a barrel and US West Texas Intermediate reaching $91.75 a barrel.