Oil prices surged following a supply shock.

VTV.vn - At the close of trading on January 27, the price of North Sea Brent crude oil futures rose by $1.98 (equivalent to 3.02%) to $67.57 per barrel.

World oil prices rose by about 3% in trading on January 27, after a severe snowstorm hit the United States, disrupting production and completely halting crude oil exports from the US Gulf Coast over the weekend.

At the close of trading on January 27, Brent crude futures rose $1.98 (3.02%) to $67.57 per barrel. West Texas Intermediate (WTI) crude futures increased $1.76 (2.9%), closing at $62.39 per barrel.

Analysts and traders estimate that the impact of the snowstorm caused US oil producers' output to fall by as much as 2 million barrels per day, or about 15% of total national output, over the past weekend.

According to data from shipping tracker Vortexa, crude oil and liquefied natural gas (LNG) exports from US Gulf Coast ports fell to zero on January 25 due to freezing weather. Samantha Santa Maria-Hartke, head of market analysis at Vortexa, said exports rebounded above seasonal averages on January 26 after ports reopened.

Tamas Varga, an oil analyst at oil services firm PVM, commented: "The cold weather in the US is likely to cause a significant drop in oil inventories in the coming weeks, especially if this situation persists."

Besides weather conditions in the US, global supply is also being negatively impacted by developments in Kazakhstan. Sources indicate that the country's largest oil field, Tengiz, is recovering more slowly than expected after a fire and power outage. It is projected that by February 7th, the field will have restored less than 50% of its normal capacity. Giovanni Staunovo, an expert at UBS, believes this situation will further tighten the oil market supply.

Geopolitical factors also contributed to the rise in oil prices. According to US officials, an aircraft carrier and supporting warships have arrived in the Middle East, bolstering US military capabilities in operations related to Iran.

Furthermore, sources from the Organization of Petroleum Exporting Countries (OPEC) and its allied oil-producing nations, known as OPEC+, revealed that the group is expected to further postpone its plan to increase production in March 2026 at its meeting on February 1st.

Source: https://vtv.vn/gia-dau-tang-vot-sau-cu-soc-nguon-cung-100260128094650769.htm