00:00It's Benzinga bringing Wall Street to Main Street.
00:02Oil prices etched higher on Monday after gaining more than 2% in the prior session
00:07as U.S. production outages and U.S.-Iran tensions supported prices, according to Reuters.
00:12Brent crude rose to $65.95 a barrel, while U.S. West Texas Intermediate to $61.10 a barrel by
00:20late morning trading. Both benchmarks posted weekly gains of 2.7% on Friday, reaching their
00:27highest levels since January 14th. Winter storm fern forced shut-ins across major U.S. oil
00:33and gas regions, tightening supply and stressing the power grid. J.P. Morgan said about 250,000
00:39barrels per day of U.S. crude output was lost due to harsh weather. Markets also reacted to
00:44escalating rhetoric between the U.S. and Iran, while supply pressures eased as Kazakhstan restored
00:50pipeline capacity and restarted production at the Tangis oil field. For all things money,
00:54visit Benzinga.com.
00:57Visit Benzinga.com.
Comments