Oil made a positive start to 2019, tracking a firmer tone in global stock markets, after U.S. president Donald Trump signaled he was open to a deal with Democrats to end the government shutdown.
Futures in New York added 0.8%, building on a 0.2% gain on the final day of trading in 2018. Trump on Tuesday tweeted an invite to congressional leaders from both parties to attend a briefing on border security on Wednesday.
West Texas Intermediate for Feb. delivery rose 35 cents to $45.76 a barrel on the New York Mercantile Exchange as at 10:14am Sydney time, earlier rose as much as 1 percent .
WTI rose 8 cents to end Monday at $45.41. The market was closed Tuesday for the New Year’s Day holiday.
Brent for March settlement gained 59 cents to $53.80 on the London-based ICE Futures Europe exchange on Monday.
Brent traded at an $8.08 premium to WTI for the same month delivery.