Analyst: The rise in oil prices is causing market attention towards the impact of US production and global supply.

Oil prices rebound in the future market, with traders focusing on the impact of the winter storm in the United States on production and the prospect of global oversupply. Brent crude and West Texas Intermediate both rose by 0.8%, to $65.29 per barrel and $60.64 per barrel, respectively, reversing earlier losses. Carsten Fritsch of Commerzbank in Germany said, "Official estimates on weather-related production losses have not yet been released." "Analysts and traders estimate that the losses could be as high as 2 million barrels per day." Due to extreme cold and power outages, refineries have reduced or shut down operations, which could severely restrict oil imports and exports, with a significant decrease in crude processing. However, market observers say that the production losses and other impacts from the winter storm may be temporary.