Oil prices settled higher Dec. 4 as optimism surrounding US federal stimulus negotiations and a weaker dollar offset pandemic-driven demand concerns. NYMEX January WTI settled 62 cents higher at $46.26/b and ICE February Brent was up 54 cents at $49.25/b. Congressional Democrats and Republicans appear closer on passing a limited federal stimulus package this week, with Senate majority leader Mitch McConnell saying Dec. 3 that a bipartisan deal was “within reach,” according to media reports. The proposed $908 billion aid package marks a significant compromise on the part of the Democrats, who had proposed a $3 trillion plan earlier this year. A weakened US dollar added further price support. The ICE US Dollar […]