WTI crude breaks $60 a barrel on oil supply worries

HONG KONG: US oil prices rallied past $60 a barrel on Monday for the first time in more than a year, fueled by concerns about supplies as Texas is hit by a severe cold snap that traders warn could slash output.
West Texas Intermediate surged 2.19 percent to $60.77 in Asian trade, its highest since January last year before the oil market collapsed as the coronavirus pandemic battered demand.