Oil prices edged lower in Asian trading Wednesday, with fragile support from signs Washington is poised to end the longest U.S. government shutdown on record outweighed by persistent fears of a looming supply glut and a resilient dollar.<\/p>\n\n\n\n
By 01:21 GMT, Brent January<\/strong> futures were down 0.2% to $65.04\/bbl<\/strong>, while WTI<\/strong> eased 0.2% to $60.85\/bbl<\/strong>.<\/p>\n\n\n\n The U.S. Senate approved a bill to reopen the government, with a House vote slated for Wednesday before presidential sign-off. A resolution would unwind weeks of travel disruptions tied to staffing shortages at airports\u2014an overhang for jet-fuel consumption\u2014and restore key federal services. While that prospect lent crude a modest bid, it wasn\u2019t enough to offset heavier macro headwinds.<\/p>\n\n\n\n Traders remained fixated on oversupply risks into 2026<\/strong>, with OPEC+<\/strong> having steadily raised output through 2025 and global inventories looking ample. Demand concerns\u2014particularly in China<\/strong>, the world\u2019s top importer\u2014continue to cloud the balance and cap rallies.<\/p>\n\n\n\n Sanctions dynamics introduced fresh two-way risk. Prices found fleeting support Tuesday after reports that Russia\u2019s Lukoil<\/strong> declared force majeure<\/strong> at an Iraqi field, highlighting potential supply curbs stemming from new U.S. measures on major Russian producers. Even so, the market\u2019s base case remains one of sufficient barrels into the new year.<\/p>\n\n\n\n A firm U.S. dollar<\/strong> kept commodities on the back foot, tightening financial conditions for non-U.S. buyers and dulling the impact of shutdown-end optimism.<\/p>\n\n\n\n Near-term direction hinges on confirmation of a U.S. reopening and any follow-through in travel demand, versus the drumbeat of supply additions and soft macro signals from China. Without evidence of faster end-demand or deeper, sustained supply disruptions, rallies are likely to meet selling into resistance, keeping Brent<\/strong> anchored mid-$60s and WTI<\/strong> near $61<\/strong> for now.<\/p>\n","protected":false},"excerpt":{"rendered":" Oil prices edged lower in Asian trading Wednesday, with fragile support from signs Washington is poised to end the longest U.S. government shutdown on record outweighed by persistent fears of a looming supply glut and a resilient dollar. By 01:21 GMT, Brent January futures were down 0.2% to $65.04\/bbl, while WTI eased 0.2% to $60.85\/bbl. …<\/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-120808","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\/120808","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=120808"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/120808\/revisions"}],"predecessor-version":[{"id":120809,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/120808\/revisions\/120809"}],"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=120808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=120808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=120808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Shutdown relief meets demand jitters<\/h2>\n\n\n\n
Supply overhang back in focus<\/h2>\n\n\n\n
Dollar headwind<\/h2>\n\n\n\n
The setup<\/h2>\n\n\n\n