Washington: Oil prices stabilized on Monday as investors assessed the likelihood of a near-term end to the US government shutdown, amid concerns about oversupply.

Brent crude futures rose 11 cents, or 0.17 percent, to $63.74 a barrel, while US West Texas Intermediate crude futures reached $59.88 a barrel, up 13 cents, or 0.22 percent.

Expectations point to an end to the historic US government shutdown, now in its 40th day, after the Senate moved Sunday toward a vote to reopen the federal government, sparking optimism in global markets.

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