COM - WTI crude pops above $60 to 13-month high as winter storm hits Texas output

West Texas crude oil (CL1:COM) tops $60/bbl for the first time since January 2020, sparked partly by historic cold weather in Texas that appear to be causing supply disruptions.March WTI +1.7% to $60.52/bbl, bringing WTI futures up 24% YTD, and April Brent (CO1:COM) +1.9% to $63.61/bbl - both hitting 13-month highs.Oil traders and company executives say production from west Texas' Permian Basin, a region that seldom suffers from frigid Arctic blasts, has plunged by as much as 1M bbl/day.The losses are due to a combination of well shutdowns, flow-line outages and disrupted road transport, all due to the extreme cold - as low as -1 Fahrenheit in Midland, the lowest since 1989.While oil production continues in many areas such as North Dakota despite bitter cold, the kit used in the Permian is not built to withstand extremely low temperatures; for example, flow lines, which link individual wells to gathering centers, are

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WTI crude pops above $60 to 13-month high as winter storm hits Texas output