Severe winter storm disrupts national oil production and lifts global prices

A major winter storm cut US oil output by 15 percent over the weekend. Combined with global supply risks, crude prices settled significantly higher on Tuesday.

洞察:
Oil prices settled roughly 3% higher on Tuesday, January 27, 2026, as a massive winter storm in the United States USUScombined with international supply constraints to tighten the market. Brent Crude Oil futures settled up $1.98, or 3.02%, at $67.57 a barrel, while U.S. West Texas Intermediate crude, also known as WTI Crude Oil , settled up $1.76, or 2.9%, at $62.39 a barrel. The price surge reflects immediate concerns over domestic availability and broader geopolitical risks affecting global distribution networks.
A drone view shows a pump jack and drilling rig south of Midland, Texas, U.S., June 11, 2025. REUTERS/Eli Hartman
A drone view shows a pump jack and drilling rig south of Midland, Texas, U.S., June 11, 2025. REUTERS/Eli Hartman
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