Crude Rallies on Weather Disruptions and Fresh Geopolitical Nerves

Oil prices jumped on Tuesday as the market priced in fundamentals once again, showing that when U.S. infrastructure gets punched in the face by weather, it’s more than geopolitics and vague supply forecasts that move the needle. Brent was trading around $66.90 a barrel on Tuesday late morning, up about $1.30 on the day. At the time, WTI neared $61.90. By afternoon, the gains continued, with Brent passing $67 and WTI nearing $62. The continued rise means it could be more than just a recovery from an earlier dip. It may be recalculating near-term…