09:02 AM EST, 11/10/2025 (MT Newswires) -- Oil prices edged higher early on Monday but remain rangebound as over-supply worries continue even as the U.S. Senate took its first step to ending the shutdown of the government that has hobbled the country's economy.

West Texas Intermediate (WTI) crude oil for December delivery was last seen up US$0.30 to US$60.05 per barrel, while January Brent crude was up US$0.28 to US$63.91.

The rise comes as a handful of U.S. Senate Democrats reached a deal with majority Republicans to end the 40-day shutdown of the U.S. government, the Washington Post reported. However the deal does not include the return of the Medicare subsidies that have been a key demand for Democrats.

Still, the potential re-opening of the U.S. government is moving investors to risk assets, with stock markets in Europe and Asia broadly higher and futures pointing to a higher open for U.S. exchanges. However oil's gains are limited by over-supply concerns as OPEC+ earlier this month said it plans a third monthly hike of 137,000 barrels per day in December, after completing 2.2-million barrels of hikes in September as the cartel looks to regain market share lost to Western Hemisphere producers.

The rise in supply comes as demand for gasoline, diesel and other refined products, with the Energy Information Administration last week reporting sharp drops in product inventories even as crude-oil stocks surged.

"The abundance of crude oil implies weaker refinery demand for the key feedstock; however, this has not yet been mirrored in product prices. Although the two major crude contracts ended the week roughly 2% lower, products rallied respectably: Heating Oil jumped 4.7%, RBOB nearly matched it with a rise of 4.25%, and the bellwether, ICE Gasoil, outperformed with a 5.88% return over the past five days," PVM Oil Associates noted.