00:00It's Benzinga bringing Wall Street to Main Street. Oil prices etched higher on Monday after gaining
00:05more than 2% in the prior session as U.S. production outages and U.S. Iran tensions
00:10supported prices, according to Reuters. Brent Crude rose to $65.90
00:15a barrel, while U.S. West Texas Intermediate to $61.10
00:20a barrel by late morning trading. Both benchmarks posted weekly gains of 2.6
00:25percent on Friday, reaching their highest levels since January 14th.
00:30Waterstorm Fern forced shut-ins across major U.S. oil and gas regions, tightening supply
00:35and stressing the power grid. JP Morgan set about 250,000 barrels
00:40per day of U.S. crude output was lost due to harsh weather. Markets also reacted to eschatology
00:45escalating rhetoric between the U.S. and Iran. While supply pressures eased, does Kazakhstan
00:50afford pipeline capacity and restarted production at the Tangus oil field.
00:54For all things money.
00:55Visit Benzinga.com
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