UPDATE 9-Oil rises 1% on U.S. stimulus hopes, supply concerns

* U.S. lawmakers to debate massive stimulus package
* OPEC+ Jan compliance with oil cuts reaches 85%
-Petro-Logistics
* Indonesia seizes Iran-flagged vessel over fuel transfer

(Adds settlement prices)
By Stephanie Kelly
NEW YORK, Jan 25 (Reuters) - Oil prices rose about 1% on
Monday as optimism around U.S. stimulus plans and some supply
concerns boosted futures, but demand worries prompted by
coronavirus lockdowns limited gains.
Brent crude futures LCOc1 rose 47 cents, 0.9%, to settle
at $55.88 a barrel. U.S. West Texas Intermediate crude CLc1
ended 50 cents, or 1%, higher at $52.77 a barrel.
Officials in U.S. President Joe Biden's administration on a
Sunday call with Republican and Democratic lawmakers tried to
head off Republican concerns that his $1.9 trillion pandemic
relief proposal was too expensive. "Newly inaugurated President Biden seems to be pushing for a
quick approval of his proposed $1.9 trillion pandemic relief
package, a development interpreted by the market as a clear
indication that the new U.S. administration aims to kick-start
an economic recovery, which will naturally benefit fuel
consumption," said Bjornar Tonhaugen, Rystad Energy's head of
oil markets.
On the supply side, the Organization of the Petroleum
Exporting Countries and its allies' compliance with pledged oil
output curbs is averaging 85% so far in January, tanker tracker
Petro-Logistics said on Monday. The data suggest the group had
improved its adherence to pledged supply curbs. In Indonesia, the country said its coast guard seized an
Iranian-flagged tanker over suspected illegal fuel transfers,
raising the prospect of more tensions in the oil-exporting Gulf.
Output from Kazakhstan's giant Tengiz field was disrupted by
a power outage on Jan. 17. Meanwhile, European nations have imposed tough restrictions
to halt the spread of the virus, while China reported a rise in
new COVID-19 cases, casting a pall over demand prospects in the
world's largest energy consumer. Barclays raised its 2021 oil price forecasts, but said
rising cases in China could contribute to near-term pullbacks.