MARKETS

Texas freeze drives ASX energy rally

OIL prices have bumped up again thanks to sluggish US output on the back severe inclement weather in Texas and were at 13-month high overnight Monday.

Helen Clark

The deep freeze has seen oil production shut in, with 2 million barrels per day yet to return to market. The freeze knocked out some 4MMbopd of capacity last week. Refining capacity was hit harder at 6MMbopd. ...

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