Crude oil price today: Brent, WTI hold near two-week highs as winter storm Fern disrupts U.S. output; OPEC+ up next
Oil prices nudged up Monday, staying close to two-week peaks amid a brutal U.S. winter storm that cut output and ongoing concerns about Middle East tensions. Brent crude futures inched up 7 cents to $65.95 a barrel by 1107 GMT, while U.S. West Texas Intermediate added 3 cents, reaching $61.10. Both benchmarks surged over 2% on Friday, finishing the week with a 2.7% gain. Phillip Nova’s Priyanka Sachdeva pointed to storm-triggered “shut-ins,” or temporary production stoppages, which are tightening “physical flows” — the actual movement of oil in the market.