Brent crude prices rose by $12/bbl during February to reach a 13-month high of $67/bbl, as vaccination rollouts and increased spending encouraged demand recovery.

GBP reached a 34-month high of 1.42 against USD as the UK’s vaccination programme surpassed 18.5m doses and the government announced its plan to end restrictions.

Shell’s Deer Park Refinery and Total’s Port Arthur Refinery have warned it may take weeks to repair damage caused by adverse weather in Texas, after shutting in February.