Oil prices climb as risk appetite grows, focus returns to supply outlook

Tokyo, Oct. 2 (BNA): Oil prices edged up on Monday, recouping some of the losses suffered at the end of last week, as investors focused on a tight global supply outlook while a last-minute deal that avoided a U.S. government shutdown restored risk appetite.

 

Brent December crude futures rose 25 cents, or 0.3%, to $92.45 a barrel by 0415 GMT after falling 90 cents on Friday, Reuters reported.

 

Brent November futures settled down 7 cents at $95.31 a barrel at the contract’s expiry on Friday.

 

U.S. West Texas Intermediate crude futures gained 29 cents, or 0.3%, to $91.08 a barrel, after losing 92 cents on Friday.

 

 

 

M.I.