Oil prices rose on Monday after U.S. leaders reached a tentative debt ceiling deal, although concerns about further interest rate hikes capped gains.
on Sunday that members of the Democratic and Republican parties will vote to support the deal.
Reaching the deal and coming closer to avoiding a default on U.S. debt renewed investor appetite for riskier assets such as commodities. "The tentative debt deal offered a relief rally in risk assets, including crude oil," said Tina Teng, a CMC Markets analyst.Prices gained as the U.S. debt ceiling talks showed progress and afterAbdulaziz bin Salman warned short-sellers betting that oil prices will fall to "watch out" for pain.
Bin Salman's warning was seen as a signal that the Organization of Petroleum Exporting Countries and allies including Russia, known as OPEC+, may further cut output when they meet on June 4.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Oil climbs after US leaders strike provisional debt dealOil prices rose in early Asian trade on Monday after U.S. leaders reached a tentative debt ceiling deal, possibly averting a default in the world's largest economy and oil consumer.
Les mer »
D.C.-area forecast: Pleasant today, but less ideal Sunday into Monday as showers roamOur wonderful run of weather couldn't last forever. We could use some rain, anyway.
Les mer »
White Sox's Liam Hendriks expected to return Monday after cancer treatmentHendriks is expected to be activated on Memorial Day, which would mark his return from stage 4 non-Hodgkin's lymphoma.
Les mer »
Liam Hendriks will return to Chicago White Sox on Monday after cancer battleThe Chicago White Sox announced on Sunday that Liam Hendriks will be returning to the team on Monday after a battle with cancer.
Les mer »
Coca-Cola 600 postponed until Monday due to wet weather - AutoblogNASCAR's Coca-Cola 600 was postponed until Monday at 3:00 p.m. due to weather. Byron will start on the pole.
Les mer »