U.S. Crude Output Hit by Winter Storm as Oil and Gas Prices Extend Monthly Gains

A powerful winter storm has disrupted the U.S. energy complex, temporarily sidelining an estimated 2 million barrels per day of crude output—around 15% of national production—according to analysts and traders. The outages, which peaked over the weekend, were concentrated in key producing regions such as the Permian Basin, raising concerns about short-term supply tightness and regional infrastructure resilience. The supply shock has implications for both U.S. benchmark Oil – US Crude and global benchmark Oil – Brent Crude, while disruptions and extreme weather conditions also intersect with demand and storage dynamics for Natural Gas as power grids and heating demand are tested.

Over the past month, Oil – US Crude has advanced about 7.73%, reflecting a firmer market tone that has been reinforced by the weather-related supply losses, with its 1-day technical outlook currently signaling Buy. Natural Gas has rallied more sharply, up roughly 27.41% over the same period, as cold-weather demand and infrastructure strain support prices; its short-term technical setup also screens as a Buy, suggesting near-term momentum remains positive. Oil – Brent Crude has climbed about 8.32% in the past month, broadly tracking the U.S. benchmark while incorporating global supply risk premia, and its 1-day technical view similarly points to a Buy stance. Investors can explore more updates, prices, and analysis across global markets at Commodities.