U.S. Oil Prices Jump Above $60 Amid Texas Ice Storms

The U.S. benchmark oil price rallied above $60 per barrel early on Monday, the highest price since January last year, as an Arctic winter blast swept through Texas, raising concerns about potential disruptions to shale production in the top oil-producing state and logistics on the U.S. Gulf Coast. As of 9:26 a.m. ET on Monday, the West Texas Intermediate Crude price had rallied 1.38 percent at $60.26. Brent Crude prices were also up and broke above $63 per barrel, at $63.11, up 1.12 percent on the day. Winter storms in Texas have raised concerns…