{"id":14925,"date":"2025-11-10T09:14:17","date_gmt":"2025-11-10T07:14:17","guid":{"rendered":"http:\/\/jhb-webdevelopers\/channelafrica\/news\/oil-gains-on-hopes-us-government-will-reopen-soon-lift-demand\/"},"modified":"2026-02-27T16:27:20","modified_gmt":"2026-02-27T14:27:20","slug":"oil-gains-on-hopes-us-government-will-reopen-soon-lift-demand","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/oil-gains-on-hopes-us-government-will-reopen-soon-lift-demand\/","title":{"rendered":"Oil gains on hopes US government will reopen soon, lift demand"},"content":{"rendered":"
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Oil prices rose on Monday on optimism that the United States (US) government shutdown could end soon and lift demand in the world’s top oil consumer, offsetting concerns about rising supplies globally.<\/span><\/p>\n<\/div>\n

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US West Texas Intermediate (WTI) crude was at $60.18 a barrel, up 43 cents, or 0.72%.<\/span><\/p>\n<\/div>\n

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An end to the historic US government shutdown, now in its 40th day, is within reach as the Senate on Sunday moved toward a vote on reopening the federal government, cheering global markets.<\/span><\/p>\n<\/div>\n

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“The imminent reopening is a welcome boost, restoring pay to 800 000 federal workers and restarting vital programs that will lift consumer confidence, activity and spending,” IG Market analyst Tony Sycamore said.<\/span><\/p>\n<\/div>\n

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“This should also help improve risk sentiment across markets” and cause a rebound in WTI prices toward $62 a barrel, he said.<\/span><\/p>\n<\/div>\n

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Analysts were concerned about any impact from flight cancellations on US jet fuel demand.<\/span><\/p>\n<\/div>\n

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Airlines canceled more than 2 800 US flights and delayed more than 10 200 on Sunday in the worst day for disruptions since the start of a US government shutdown.<\/span><\/p>\n<\/div>\n

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Brent and WTI fell about 2% last week and notched their second weekly decline, on fears of a supply glut.<\/span><\/p>\n<\/div>\n

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–Reuters–<\/p>\n<\/div>\n","protected":false},"featured_media":14384,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-14925","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"","published_date":null,"news_description":"Oil prices rose on Monday","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/14925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/14925\/revisions"}],"predecessor-version":[{"id":19376,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/14925\/revisions\/19376"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/14384"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=14925"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=14925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}