New york: Oil prices continued their gains on Monday after rising more than 2% in the previous session, as tensions between the United States and Iran kept investors on edge even after Kazakhstan’s main export pipeline fully resumed operations. Brent crude futures rose 12 cents, or 0.18%, to $66 a barrel by 01:27 GMT. U.S. West Texas Intermediate crude futures gained 14 cents, or 0.23%, to $61.21 a barrel.

According to National Iraqi News Agency, both benchmarks posted weekly gains of 2.7%, closing Friday at their highest levels since January 14. In the United States, crude oil and natural gas production declined, and spot energy prices rose amid a winter storm that began sweeping across the country on Friday.

“Oil production was also affected by the severe winter weather, with losses reaching approximately 250,000 barrels per day, including declines in Bakken, Oklahoma, and parts of Texas,” JPMorgan analysts said in a note.