{"id":120735,"date":"2025-11-10T13:52:59","date_gmt":"2025-11-10T09:52:59","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=120735"},"modified":"2025-11-10T13:53:03","modified_gmt":"2025-11-10T09:53:03","slug":"oil-rises-as-shutdown-end-hopes-lift-demand-outlook-supply-overhang-tempers-gains","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-rises-as-shutdown-end-hopes-lift-demand-outlook-supply-overhang-tempers-gains\/11\/10\/market-updates\/","title":{"rendered":"Oil rises as shutdown-end hopes lift demand outlook; supply overhang tempers gains"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\"><\/h1>\n\n\n\n<p>Oil prices edged higher Monday, supported by signs the U.S. government shutdown could soon end\u2014potentially improving demand in the world\u2019s largest crude consumer\u2014while persistent supply concerns capped the move.<\/p>\n\n\n\n<p>By 07:51 GMT, <strong>Brent<\/strong> was up <strong>$0.39 (+0.61%)<\/strong> at <strong>$64.02\/bbl<\/strong> and <strong>WTI<\/strong> gained <strong>$0.43 (+0.72%)<\/strong> to <strong>$60.18\/bbl<\/strong>. The bid followed a U.S. Senate procedural step toward reopening the federal government after 40 days, a development that lifted global risk sentiment. IG\u2019s Tony Sycamore said a resolution should restore pay to ~800,000 federal workers, bolster confidence and spending, and could \u201crebound WTI toward <strong>$62<\/strong>.\u201d<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Demand hopes vs. near-term drags<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Travel disruption:<\/strong> U.S. airlines canceled <strong>2,800+ flights<\/strong> and delayed <strong>10,200+<\/strong> on Sunday\u2014the worst day since the shutdown began\u2014posing a temporary headwind to <strong>jet fuel<\/strong> demand.<\/li>\n\n\n\n<li><strong>Macro tone:<\/strong> A shutdown resolution would also restart the flow of official economic data, aiding visibility on growth and fuel consumption.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Supply picture still heavy<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>U.S. inventories:<\/strong> Crude stocks rose more than expected, reinforcing a near-term oversupply narrative.<\/li>\n\n\n\n<li><strong>Floating storage in Asia:<\/strong> Volumes have <strong>doubled<\/strong> in recent weeks as tighter Western sanctions curbed flows to <strong>China<\/strong> and <strong>India<\/strong>, and quota constraints damped intake by independent Chinese refiners.<\/li>\n\n\n\n<li><strong>Trade shifts:<\/strong> Indian refiners increased purchases from the <strong>Middle East<\/strong> and the <strong>Americas<\/strong> to replace sanctioned Russian barrels.<\/li>\n\n\n\n<li><strong>Russia risks:<\/strong> <strong>Lukoil<\/strong> faces mounting disruptions ahead of a <strong>Nov. 21<\/strong> U.S. deadline for companies to cease business ties, after a proposed asset sale to <strong>Gunvor<\/strong> fell through.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">OPEC+ and price context<\/h3>\n\n\n\n<p>Both benchmarks fell about <strong>2%<\/strong> last week, logging a <strong>second<\/strong> straight weekly loss. <strong>OPEC+<\/strong> will <strong>slightly increase output in December<\/strong> but pause further hikes in <strong>Q1<\/strong>, signaling caution on tipping the market into glut.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Outlook<\/h3>\n\n\n\n<p>The <strong>shutdown path<\/strong>\u2014and its impact on consumer confidence and data flow\u2014will shape near-term demand sentiment. Still, with <strong>rising U.S. inventories<\/strong>, <strong>elevated floating storage<\/strong>, and incremental <strong>OPEC+<\/strong> supply, rallies are likely to encounter resistance unless evidence of firmer end-demand emerges or Russian supply disruptions intensify.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices edged higher Monday, supported by signs the U.S. government shutdown could soon end\u2014potentially improving demand in the world\u2019s largest crude consumer\u2014while persistent supply concerns capped the move. By 07:51 GMT, Brent was up $0.39 (+0.61%) at $64.02\/bbl and WTI gained $0.43 (+0.72%) to $60.18\/bbl. The bid followed a U.S. Senate procedural step toward &hellip;<\/p>\n","protected":false},"author":9,"featured_media":60920,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,6827,49,36],"tags":[],"class_list":["post-120735","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/120735","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=120735"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/120735\/revisions"}],"predecessor-version":[{"id":120736,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/120735\/revisions\/120736"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/60920"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=120735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=120735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=120735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}