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The Cold Snap In Texas Raises Oil prices Temporarily – It Is Reasonable For The Rise To Be Gradual

Bankinter | The price of oil rebounded strongly yesterday (Brent $63.3, +1.4%; West Texas $59.5, +2.1%), due to the cold weather in Texas, the main US oil state, which is causing supply problems. Therefore, the rise is one-off. In our view, a strong and sustained rise in crude oil prices poses a risk for the stock markets due to the impact this would have on economic growth.