Oil rallied to a 13-month high on fears that cold weather in Texas may disrupt flows from America’s largest shale patch, exposing the fragility of global supplies amid sharp cutbacks by OPEC and its allies. U.S. West Texas Intermediate futures surged as much as 2.5% and rose above $60 a barrel for the first time since January last year. Brent crude in London, meanwhile, rose toward $64. Traders estimate a few hundred thousand barrels a day of output in Texas may be impacted by well shutdowns, disrupted road transport and power outages due to the extreme weather conditions. WTI oil futures surged above $60 to the highest in a year The Arctic blast gripping the U.S. is threatening to crimp crude supplies and unleash a rush for everything from propane to heating oil, fuels that are used in mobile heating devices. In the past weeks, harsh winter conditions across […]