View full page at energyexch.com

 

Oil prices rise further on slow U.S. output restart

From reuters.com

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 futures were up 28 cents, or 0.4%, at $65.52 a barrel by 0102 GMT, while U.S. crude oil rose 14 cents, or 0.2%, to $61.84 a barrel. Both benchmarks rose nearly 4% in the previous session. “The positive momentum continues in the oil complex, with investors unabashedly predisposed to a bullish view,” said Stephen Innes, chief global ... (full story)

Story Stats

  • Posted:
  • Category: Fundamental Analysis