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Oil Prices Rally as Cold Blast Hits Texas


Frigid temperatures across swaths of the U.S. injected new momentum into the rally in energy markets Monday, boosting demand for fuel and power while threatening oil-and-gas production in Texas.
Brent-crude futures, the benchmark in international energy markets, rose 1.4% to $63.30 a barrel, their highest level since January 2020. Futures for West Texas Intermediate, the main grade of U.S. crude, rose 1.1% to $60.13 a barrel and futures for natural gas at Henry Hub in Louisiana were up 4.3% at $3.04 per million British thermal units, according to FactSet.
The fresh leg in the energy market’s recovery from the coronavirus shock came as a …

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