Crude Oil Rises To USD 60.20 After US Shutdown Ends, But Experts Warn Market Remains Bearish
Crude oil prices climbed for a second straight session on Monday, rising 0.98% to USD 60.20 per barrel. Traders cheered the move as the end of the US government shutdown eased market uncertainties.
US senators reached a bipartisan deal to reopen the government after a record 40-day shutdown. The agreement, supported by at least eight Senate Democrats, funds the government through January 30, 2026, and includes a vote on extending Affordable Care Act subsidies in December. The Senate is set to vote on the proposal between 8:30 and 9 pm ET (7:30 am IST Monday), paving the way for normal government operations.
Despite the short-term recovery, analysts remain cautious about the broader oil market. Energy expert Narendra Taneja told ANI,
“The oil price scenario will remain bearish until we see steady growth in demand. The expected end of the US government shutdown may help improve oil market sentiment, leading to a slight price increase. Still, unless there is significant growth in demand or supply disruptions due to geopolitical or natural reasons, market sentiments would stay bearish.”
Riya Singh, Research Analyst at Emkay Global Financial Services, noted that supply-side pressures continue to weigh on the market. “OPEC+ and its allies have modestly raised production for December, but signaled restraint for the first quarter of 2026 to prevent oversupply. Rising output from non-OPEC producers further affects market balance, keeping overall caution in place,” she explained.
While the end of the US government shutdown has given crude oil a short-term boost, analysts suggest that without sustained demand growth or supply disruptions, the oil market is likely to remain bearish in the coming months.
Disclaimer: Syndicated from ANI, mildly edited for clarity and readability.
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