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(Bloomberg) -- Trafigura Group sees oil markets firming in the coming months as most of the world emerges from lockdowns and production losses from the recent U.S. deep freeze add to a tighter supply outlook.“We have a strong market going into summer,” Ben Luckock, co-head of oil trading at the commodities trading giant, said in a Bloomberg Television interview. “We’re certainly very bullish most of the world in getting out of lockdowns this summer. So this market has been given an impetus given the events in Texas.”The market is likely underestimating the im...

Summer oil market looks strong after Texas freeze, says crude trader Trafigura By Andres Guerra Luz, Michael Tobin, Alix Steel and Guy Johnson on 2/22/2021 (Bloomberg) --Trafigura Group sees oil markets firming in the coming months as most of the world emerges from lockdowns and production losses from the recent U.S. deep freeze add to a tighter supply outlook. “We have a strong market going into summer,” Ben Luckock, co-head of oil trading at the commodities trading giant, said in a Bloomberg Television interview. “We’re certainly very bull...

Oil surged as traders and investment banks see global supplies rapidly tightening.

Governors' Wind Energy Coalition Big Freeze in Texas Is Becoming a Global Oil Market Crisis Source: By Alex Longley, Bloomberg • Posted: Thursday, February 18, 2021 What began as a power issue for a handful of U.S. states is rippling into a shock for the world’s oil market. More than 4 million barrels a day of output — almost 40% of the nation’s crude production — is now offline, according to traders and executives. One of the world’s biggest oil refining centers has seen output drastically cut back. The waterways that help U.S. oil flow to the rest of the wo...

Texas Freeze Ignites Worldwide Crisis in Oil Market The supply chain has lost more than four million barrels per day, with refineries also slashing fuel production.  February 19, 2021 HOUSTON—What started as a power grid situation for some southern U.S. states has triggered a crisis across the globe in the oil market, Bloomberg reports. Nearly 40% of the U.S. crude production—more than four million barrels per day—has been shuttered, according to officials and traders. One of the largest oil refining centers in the world has had to significantly reduce output, while access to the water...