West TX Oil Steady Below $45 Ahead of Major Snowstorm

U.S. oil prices ended lower Monday, ahead of the first big snowstorm this year in the country’s Northeast, while benchmark Brent crude fell after pledges of no policy change by the top oil exporter Saudi Arabia after King Abdullah’s death.

An 11-year high in the U.S. dollar against other major currencies, and fears of fresh instability in the euro zone after a decisive Greek election victory by the Syriza party also limited any potential rebound in oil, traders said.

Light snow began falling on the U.S. East Coast on Monday morning, the first signs of a potentially historic blizzard that officials predicted could dump up to 3 feet of snow in the coming day, snarling transportation for millions of people.

CNBC

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