Oil prices near 13-month highs, supported by Texas cold snap – By Shadia Nasralla (Reuters) / Feb 15 2021
LONDON (Reuters) – Oil prices hovered near 13-month highs on Tuesday, supported by a cold snap that shut wells in the biggest U.S. producing state Texas, although gains were capped by a wage deal in Norway that averted supply disruptions in Europe.
The global rollout of coronavirus vaccinations, fuelling expectations of a recovery in the global economy and oil demand, has also kept prices buoyant.
Keenly watched U.S. oil inventory data from the API industry association and Energy Information Administration (EIA) will be released this week on Wednesday and Thursday, respectively, each delayed by a day after U.S. markets were closed on Monday.
