Oil prices moved higher on Wednesday as worries grew over supply disruptions following a powerful winter storm in the United States. The storm knocked out crude production and temporarily stopped oil exports from the U.S. Gulf Coast over the weekend.
By 03:25 GMT, Brent crude was up 25 cents, trading at $67.82 a barrel, while U.S. West Texas Intermediate (WTI) gained 26 cents to reach $62.72 a barrel.
The weather-related shutdowns added fresh pressure to the market, reminding traders how quickly supply can tighten when extreme conditions hit key energy hubs.
