Crude oil prices rose on Tuesday after a severe winter storm disrupted U.S. production. About 2 million barrels per day, or 15% of output, were shut in, and Gulf Coast shipments were halted. Brent crude climbed 3% to $67.57 a barrel, while WTI rose nearly 3% to $62.39, with further stock draws possible if cold weather persists.

UK gas prices also moved higher, supported by colder weather forecasts and supply issues. The British spot gas price rose around 1% to 102.20 p/therm, helped by lower U.S. feedgas flows and an ongoing outage at Norway’s Aasgard field. However, longer-dated prices eased as rising global LNG supply reduced concerns over Europe’s gas storage levels.