Oil futures surge 3% a barrel as winter storm slams US output

HOUSTON, – Oil prices settled 3% higher on Tuesday as producers reeled from a winter storm that hobbled crude production and drove U.S. Gulf Coast crude exports to zero over the weekend.

Brent crude futures settled up $1.98 or 3.02%, at $67.57 a barrel. U.S. West Texas Intermediate crude settled up $1.76 or 2.9%, at $62.39 a barrel.