Debt Ceiling Deal Optimism To Boost Oil Prices

Oil markets have kicked off the new week on a slightly sour note with leading benchmarks recording minor gains. WTI crude was up 0.37% to trade at $72.94/barrel at 13:19 hrs ET in Monday’s session while Brent was down 0.12% to $77.04.  The sideways trading comes a day after negotiators from Democratic and Republican parties reached an agreement to raise the debt limit on Sunday night, days before the government hit its borrowing limit. If Congress approves the new deal, the federal government will have the liberty to borrow…