Oil prices rallied again on Thursday to hit 13-month highs as concerns that a rare cold snap in Texas could disrupt U.S. crude output for days or even weeks prompted fresh buying. ›

Oil prices advanced further on Wednesday, underpinned by major supply disruption in the south of the United States this week, caused by a historic winter storm in Texas.

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Oil prices rose on Tuesday as a cold front shut wells and refineries in Texas, the biggest crude producing state in the United States, the world’s biggest oil producer.

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Oil prices soared on Monday to their highest in about 13 months as fears of heightened tensions in the Middle East prompted fresh buying, while hopes that a U.S. stimulus and an easing of lockdowns will buoy fuel demand provided support.

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British wholesale gas prices were mixed on Friday morning, with cold temperatures propping up the within-day contract but forecasts of warmer weather curbing future demand.

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Oil prices dropped for a second day on Friday, pulling further back from a one-year high after OPEC again lowered its demand forecast and the International Energy Agency said the market was still over-supplied.

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Oil prices fell on Thursday, giving up some of the recent strong gains on expectations of slower economic recovery and speculation that the market’s strength could tempt producers like Saudi Arabia to reduce output by less.

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British wholesale gas prices fell on Wednesday as healthy flows of liquefied natural gas (LNG) boosted supplies and milder weather was forecast from next week.

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Oil prices slipped on Wednesday, threatening to end the longest rally in two years as investors shrugged off industry data showing a fall in U.S. crude oil stocks that added to optimism about an expected rise in global fuel demand.

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Oil prices advanced on Tuesday to their highest in 13 months, as supply cuts by major producers and optimism over a recovery in fuel demand support energy markets.

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