Brent oil held gains in Asia after closing at the highest level in more than a year as electricity blackouts caused by freezing weather in Texas disrupted flows from the biggest U.S. shale patch.<\/p>\n
Futures in London traded above $63 a barrel after rising 1.4% Monday. The power cuts have spread to central parts of the U.S. in a deepening crisis that\u2019s already crippled the Texas electrical grid. Some of North America\u2019s biggest refineries were shut down Monday, with more than 3 million barrels of daily oil-processing capacity idled, according to consultant Energy Aspects Ltd.<\/p>\n
It\u2019s the latest in a series of cold snaps that have given a larger-than-expected boost to oil consumption this year. The North Sea oil market, which helps price more than two-thirds of the world\u2019s crude, also saw its biggest spate of bullish activity in years. Meanwhile, there\u2019s a chance that Norwegian supply will be disrupted with talks to avert a refinery strike going past a deadline.<\/p>\n","protected":false},"excerpt":{"rendered":"
Brent oil held gains in Asia after closing at the highest level in more than a year as electricity blackouts caused by freezing weather in Texas disrupted flows from the biggest U.S. shale patch. Futures in London traded above $63 a barrel after rising 1.4% Monday. The power cuts have spread to central parts of the U.S. in a deepening crisis that\u2019s already crippled the Texas electrical grid. Some of North America\u2019s biggest refineries were shut down Monday, with more than 3 million barrels of daily oil-processing capacity idled, according to consultant Energy Aspects Ltd. It\u2019s the latest in a […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-400767","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/400767","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=400767"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/400767\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=400767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=400767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=400767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}