WASHINGTON (dpa-AFX) - Oil prices rose on Monday amid optimism that a deal to reopen the U.S. government would help lift demand in the world's top oil consumer.
Benchmark Brent crude futures rose half a percent to $63.96 a barrel, while WTI crude futures were up 0.6 percent at $60.13.
Both contracts fell about 2 percent last week on concerns about rising global supplies as OPEC+ agreed to increase output slightly in December and data showed crude inventories are on the rise in the United States.
U.S. President Donald Trump's decision to exempt Hungary from sanctions over its continued purchases of Russian oil and gas for one year also added to oversupply concerns.
The dollar was under pressure in European trade after the United States moved one step closer towards ending the historic government shutdown.
The U.S. Senate voted 60-40 to end the longest-running government shutdown, which entered its 40th day on Sunday.
The bipartisan legislation, which would fund most federal agencies through January and guarantee back pay for federal employees affected by the closure, would now go to the House of Representatives for consideration.
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