Oil Prices Jump
Freezing temps across the U.S. injected new momentum into the rally in energy markets, putting crude on course to settle above $60 a barrel for the first time since the early days of the Covid-19 pandemic. (Wall Street Journal)
WTI crude futures gained 1.8% to hit $60.53 a barrel Monday morning, extending their advance in 2021 to 25%. Brent crude, the international benchmark, climbed 1.2% to hit a 13-month high of $63.20 a barrel in London. Natural gas futures at Henry Hub in Louisiana were up 3.3% at $3.01 per million British thermal units.