Oil jumps $1/bbl as Texas freeze shut production, prompts US output drop

Topics Oil Prices | Crude Oil | Brent crude


By Laila Kearney NEW YORK (Reuters) - Oil prices gained more than $1 a barrel on Wednesday, as frigid Texas temperatures shut production across the largest U.S. crude producing state, with the unusually cold weather expected to hamper output for days or even weeks. Brent crude settled at $64.34 a barrel, gaining 99 cents, or 1.6%, while U.

S. West Texas Intermediate (WTI) crude settled at $61.14 a barrel, rising $1.09, or 1.8%. Both benchmarks were at their highest levels since January last year. Oil has been supported by OPEC+.....

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