Muscat: Oil prices fell in early Asian trading today, cutting into gains made in the previous session, as concerns about an oversupply outweighed optimism over a possible resolution to the US government shutdown. Brent crude futures fell by 13 cents, or 0.2%, to $63.93 per barrel, while US West Texas Intermediate (WTI) crude was down 13 cents, or 0.2%, at $60 per barrel.

According to Oman News Agency, both benchmarks rose by around 40 cents in the previous session. The decline in oil prices reflects ongoing market concerns about an oversupply, which has overshadowed recent positive developments regarding the potential end of the US government shutdown.