Muscat: Brent crude futures slipped 8 cents, or 0.12 percent, to $65.08 a barrel after climbing 1.7 percent on Tuesday. U.S. West Texas Intermediate (WTI) crude futures eased 7 cents, or 0.11 percent, to $60.97 a barrel, following a 1.5 percent rise in the prior session.
The modest decline came as the Republican-controlled U.S. House of Representatives prepared to vote on a bill aimed at restoring government funding through January 30.
Tony Sycamore, market analyst at IG, noted that ending the shutdown would likely “boost consumer confidence and increase economic activity,” a combination that could stimulate demand for crude oil. Analysts also said a government reopening could reignite travel and jet fuel consumption ahead of the holiday season.
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Meanwhile, on the supply front, the impact of U.S. sanctions on Russian oil majors Lukoil and Rosneft has begun to surface, lending some support to global crude prices even amid broader market uncertainty.
