Oil futures rallied on Monday, with prices up by more than 3%, as traders bet that the market will see a slow recovery from the frigid Texas weather that led to reductions in crude production refinery activity. “It is likely to take some time for U.S. output to return to any sort of normal, as engineers wrestle with the problems of ice damage to various infrastructure items,” said Michael Hewson, chief market analyst at CMC Markets UK. March West Texas Intermediate crude CLH21,
