Brent crude oil prices give up gains after rising above $65 on Texas freeze
NEW YORK (Reuters) – Oil prices steadied on Thursday, with Brent edging back from a 13-month high, after a sharp drop in U.S. crude inventories supported prices, while buying spurred by a cold snap in the largest U.S. energy-producing state petered out.
Brent crude rose 3 cents to $64.37 a barrel by 11:40 a.m. EST (1640 GMT), after increasing to $65.52 earlier in the session, its highest since Jan. 20, 2020.
U.S. West Texas Intermediate (WTI) crude futures rose 5 cents to $61.19 a barrel, after earlier reaching $62.26, the highest since Jan. 8, 2020.
