WASHINGTON (dpa-AFX) - Oil prices edged lower on Wednesday after gaining about $1 on Tuesday.
Benchmark Brent crude futures fell 0.6 percent to $64.79 a barrel after climbing 1.7 percent in the previous session on hopes that the end of the longest government shutdown in U.S. history would boost demand in the world's top crude-consuming nation.
WTI crude futures were down 0.7 percent at $60.62 after rising 1.5 percent on Tuesday.
A spending bill aimed at reopening the government heads to the U.S. House of Representatives, where it is expected to be passed as soon as Wednesday afternoon.
The passage of the bill would help restore funding to government agencies through January 30.
Meanwhile, the International Energy Agency (IEA) said in its annual World Energy Outlook published today that that world oil and gas demand could continue to grow until 2050.
The projection was a departure from its previous expectations that global oil demand would peak this decade, apparently due to a speedy transition to cleaner fuels.
The Organization of the Petroleum Exporting Countries and the U.S. Energy Information Administration will release their monthly outlooks later today.
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