Author of the article:

Reuters

Reuters

Bozorgmehr Sharafedin

Publishing date:

Feb 17, 2021 1 hour ago 2 minute read

LONDON– Oil rates advanced further on Wednesday, underpinned by major supply disturbance in the south of the United States this week caused by a winter storm in Texas.

” The effect on crude oil costs will mainly depend on how long the power crisis will last, but ultimately rates will likely return to the principles with a focus on the global energy demand and OPEC ,” said Margaret Yang, a strategist at Singapore-based DailyFX.

Leading Stories Newsletter

Sign up to get the daily top stories from the Financial Post, a division of Postmedia Network Inc.

By clicking on the sign up button you consent to get the above newsletter from Postmedia Network Inc.

LEAVE A REPLY

Please enter your comment!
Please enter your name here