Home » Natural gas futures soar more than 9% at one point as winter storms continue to hit Northeast U.S.

Natural gas futures soar more than 9% at one point as winter storms continue to hit Northeast U.S.

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(Original title: Natural gas futures soared more than 9% at one point as winter storms continued to hit the Northeast of the United States)

News from the Financial Associated Press on December 16 (edited by Niu Zhanlin)Eastern time on Thursday (December 15), the winter storm continued to sweep across the northeastern United States and caused strong winds, snowfall and freezing rain. At least three people were killed, dozens were injured, and communities in many places were destroyed. The cold snap also pushed U.S. natural gas futures soaring more than 9 percent at one point before paring gains to 7 percent in the latest session.

Due to damage to electrical facilities, more than 50,000 households were without power in Louisiana and Mississippi on the evening of the 14th. At least 49 tornadoes were reported in Louisiana, Mississippi, Texas, Alabama and Florida on the 14th and 15th local time, the U.S. Storm Prediction Center said. As of 9 a.m. on the 15th, more than 1.5 million people were under tornado warnings in southeastern Alabama, northern Florida and southern Georgia.

The National Weather Service issued a warning that for those without shelter, flying debris could be deadly, with homes and vehicles likely to be destroyed and many people at risk.

From the Rocky Mountains to the East Coast, blizzards will continue to produce large, widespread and impactful weather hazards, forecasters said.

Forecasters have warned that temperatures could drop to -29C in many places, with temperatures that could cause frostbite on exposed skin in short order.

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Additionally, nearly 50 tornadoes have been reported in six states since Tuesday, the vast majority in Louisiana and Mississippi, data showed.

AccuWeather meteorologists said parts of New York, Vermont, New Hampshire and Maine could see up to 18 inches of snow, with individual areas seeing up to 2 feet of snow. The central U.S., including Texas, will be gripped by a polar vortex next week, with temperatures likely to hit multi-decade lows.

New York Gov. Kathy Hochul said the state is well prepared for a few inches of snow. In addition to the snow, strong winds could also bring down utility poles, but we have utility crews on the ground.

North American Electric Reliability, which assesses the risk of outages, said the extreme weather could put enormous pressure on the Texas power grid, with demand expected to peak on Dec. 22.

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