Oil Prices Rise on Supply Disruptions and Cold Weather Limiting Output
• Oil prices rose about 2% due to supply disruptions from a drone strike on a Russian fuel terminal and cold weather limiting US output.
• Severe cold weather has reduced oil production in North Dakota by over 20% and other states.
• Stock markets continuing to gain points to greater oil demand in coming months.
• Attacks by Iran-aligned Houthis on ships in Red Sea have continued despite US retaliatory measures.
• Libya's Sharara oilfield resumed production after protesters ended sit-in that had halted output since early January.