Tight supply due to freezing weather moves oil prices higher
Prices have also received a boost after Goldman Sachs raised its Brent price forecast $10
22 February 2021 - 12:56
London — Oil prices rose on Monday as the slow return of US crude output cut by frigid conditions served as a reminder of the tight supply situation, just as demand recovers from the depths of the Covid-19 pandemic.
Brent crude was up 33 US cents, or 0.5%, at $63.24 a barrel by 9.45am GMT, after gaining nearly 1% last week. US oil rose 23c, or 0.4%, to $59.47 a barrel, having fallen 0.4% last week...
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