Crude oil prices rose today following a drone attack on the Caspian Pipeline Consortium and cold weather in the United States, both disruptive to production. At the time of writing, Brent crude was trading at $75.90 per barrel, with West Texas Intermediate at $71.91 per barrel.
The Trump administration on Friday approved plans for a second deepwater oil loading terminal off the Texas coast, opening another door for continued long-term growth in American crude production and exports.
Curious Minds Corner
What is the largest oil spill in history, and how much oil was spilled?
The largest oil spill in history is the Deepwater Horizon spill in 2010, which released approximately 4.9 million barrels of oil into the Gulf of Mexico.