U.S. Cold Snap Temporarily Disrupts Oil and Gas Output, Lifts Energy Benchmarks

A severe cold wave across the United States over the weekend temporarily disrupted shale output, with analysts estimating U.S. oil production fell by as much as 2 million barrels per day, led by weather-related shut-ins in the Permian Basin. Energy Aspects pegged Permian outages at about 1.5 million barrels per day at their peak, now reduced to roughly 700,000 barrels per day as operations restart, with full recovery expected by month-end. The disruption has drawn investor attention to benchmark crude contracts, including Oil – US Crude and Oil – Brent Crude, as well as to U.S. Natural Gas, given the combination of supply interruptions and heightened heating demand. Refiners also reportedly curtailed operations, adding another layer of short-term tightness to refined products markets.

Over the past month, Oil – US Crude has advanced about 3.73%, reflecting a market that is reacting to episodic supply risks while still anchored by broader macro and demand expectations; the current 1-day technical stance is Buy, indicating short-term bullish momentum. Oil – Brent Crude is up roughly 4.80% over the same period, suggesting slightly stronger performance in the global benchmark, with a matching 1-day technical signal of Buy, consistent with expectations of tighter seaborne supplies. Natural Gas has rallied about 22.83% over one month, underscoring the market’s sensitivity to winter weather and storage dynamics; its 1-day technical outlook is also Buy, aligning with the stronger near-term price trend. Investors can explore more updates, prices, and analysis across global markets at Commodities.