The mother of an 11-year-old boy who died after they lost electricity and heat in their Texas mobile home during last week's freeze files a $US100 million lawsuit against two power companies for gross negligence.
Oil prices have started to make their downward correction, with the worst of the US big freeze now behind us, and US producers starting to bring back crude oil production. It may take refiners a little bit longer to get back up to speed, following the cold snap and power outages. As a result, product cracks are likely to remain fairly well supported until we see refinery operations returning to normal. There are suggestions that it could take some weeks for this to happen. Given the refinery outages, crude input to refiners will likely suffer, and so in the weeks ahead, we could see some fairly large crude oil stock builds.
Oil prices rose on Monday as the slow return of US crude output that was cut by frigid conditions raised concerns about supply just as demand is coming back from the depths of the coronavirus pandemic