Oil Advances as Markets Assess Texas Return Before OPEC+ Meet

Bloomberg Quint | Feb 22, 2021 at 6:46 AM
  • Brent oil resumed gains as the market assessed the fallout from the big freeze across Texas.
  • Crude has gained more than 20% this year after a pledge from Saudi Arabia last month to deepen production curbs turbo-charged a rally triggered by Covid-19 vaccine breakthroughs.
  • Goldman raised its price estimates and is now predicting Brent will reach $70 a barrel in the second quarter and $75 in the following three months, $10 above its previous forecasts.