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Oil prices jump by more than a dollar as US output slow to return after winter storms – Fox Business
Oil prices jumped by more than $1 on Tuesday, as U.S. output was slow to return after a deep freeze in Texas shut in crude production last week.
SINGAPORE – Oil prices jumped by more than $1 on Tuesday, as U.S. output was slow to return after a deep freeze in Texas shut in crude production last week.
Shale oil producers in the southern United States could take at least two weeks to restart the more than 2 million barrels per day (bpd) of crude output that shut down because of cold weather, as frozen pipes and power supply interruptions slow their recovery, sources said.
Brent crude was up $1.06, or 1.6%, at $65.30 a barrel by 0204 GMT, after…
