Oil Prices React to U.S. Debt Ceiling Bill and OPEC+ Focus

Oil prices rose slightly after the U.S. House of Representatives passed a debt ceiling bill, countering an inventory build reported by the American Petroleum Institute. The bill involves suspending the U.S. debt ceiling for two years, with some caps on federal spending and recycling of unused Covid funds. The possibility of a U.S. default has weighed on oil markets for weeks, but the bill's passage should provide some upward momentum for oil prices ahead of the OPEC meeting. The bill still needs to pass the Senate.