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A historic winter storm has killed at least 21 people, left millions of Texans without power and spun killer tornadoes into the U.S. Southeast on Feb 16.
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(Yahoo Finance) Outlook of the Oil Industry Ahead of OPEC Meeting. - Feb 23, 2021

U.S. shale producers reveal extent of hit from Texas freeze

(Reuters) - Occidental Petroleum Corp, Diamondback Energy Inc and a host of smaller Permian-focused U.S. shale producers on Monday forecast lower oil output in the first quarter, giving the first indications of the hit to the industry caused by last week’s winter storm. Areas of Texas not used to th

Oil gains as U.S. production slowly returns after freeze

TOKYO (Reuters) - Oil prices rose on Monday as the slow return of U.S. crude output that was cut by frigid conditions raised concerns about supply just as demand is coming back from the depths of the coronavirus pandemic. Brent crude was up 76 cents, or 1.2%, at $61.67 a barrel by 0104 GMT, after ga

Markets Outlook: Key market focal points as March draws near

Market highlights Several focal points for market participation as the end of February beckons Reflation is likely be the central theme of 2021 Pull-back in crude prices looks to be receding FX has devolved into a 24-48-hour trade The Week Ahead As we move towards the end of February there are sever
(BLOOMBERG) What Contributed to the Texas Energy Crisis? - Feb 20, 2021#TexasFreeze##energy##CrudeOil#

WTI drops back below to $59.00 level amid downbeat finish to the week

WTI is on course for a second day of losses and is back to the $59.00 level. The fact that Texas is bringing production back online and talk of US/Iran talks weighed on oil at the end of the week. Front-month futures contracts for the American benchmark for sweet light crude, West Texas Intermediary

US Pres. Biden’s State of the Union might boost metals prices – Capital Economics

"Abnormally cold temperatures in the US, particularly Texas, have forced a significant share of US oil wells and refineries offline this week," note Capital Economics analysts. Key quotes "Oil prices initially surged on the back of this disruption, but they have since retraced most of their gains. I

Shares rise as cyclical stocks provide support; yields climb

NEW YORK (Reuters) - A gauge of global equity markets snapped a 3-day losing streak to edge higher on Friday, as the recent selling pressure on high-flying big technology-related stocks eased even as investors showed a preference for economically sensitive cyclical sectors. Oil prices fell from rece

WTI bounces off lows near $58.60 ahead of US oil rig count

Prices of the WTI trim earlier losses and approach $60.00. The EIA reported a nearly 7.3M barrel drop in crude supplies. Baker Hughes will release the weekly US oil rig count later. Prices of the West Texas Intermediate (WTI) manage to garner some buying interest at session lows in the $58.60 area o

A difficult week

A rather downbeat week in the markets is ending on a more positive note, with US stocks opening a little higher and Europe heading for decent gains into the close. Concerns about sharply rising yields appear to have abated for now, despite the fact that the direction of travel continues to be upward

Overgrown fear of the side-effects of recovery can return time and again

Outlook We had expected the dollar revival to be short-lived because the inflation/yield story was mostly baseless (so far), but the pushback ended after only two days, abnormally short and therefore a little fishy. This probably means overgrown fear of the side-effects of recovery can return time a

Traders rush to supply fuel to the U.S. as Texas freeze bites

LONDON (Reuters) - Massive refining outages in the U.S. state of Texas due to freezing weather has led to a flurry of fuel tanker bookings from Europe, while several carriers were diverting away from the U.S. Gulf Coast, traders and analysts said. The cold snap has halted about one-fifth of the Unit

As power returns, Texas energy firms slowly emerge from deep freeze

HOUSTON (Reuters) - Texas energy firms on Friday began to prepare for oil and gas production after days of frozen shutdowns as electric power and water service slowly resumed at darkened oilfields and refineries. It will take several days for oilfield crews to deice valves, restart systems and begin

Texas oil patch to resume operations as US temperatures moderate [Video]

- Overview of market sentiment at the European open (00:00​). - Latest update on the US oil situation as output set to return (8:44​). - Biden to re-open talks with Iran (14:56​). - Main calendar events today: Flash PMI data in focus (17:57​).

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