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Hurricane Matthew Is a $15 Billion Threat Headed to Florida

  • Storm could knock out power to more than 1 million in Florida
  • Matthew will rake the Bahamas first, starting Wednesday
Bloomberg business news

Hurricane Matthew Threatens More Than Just Oil

Updated on

Hurricane Matthew has thousands fleeing the U.S. Southeast where it’s expected to batter the coastline and threaten electricity supplies to more than 1 million people in Florida. Potential losses are seen as high as $15 billion.

Matthew is pounding parts of the central Bahamas with maximum sustained winds at 115 miles (185-kilometers) per hour and is expected to intensify as it approaches Florida, the U.S. National Hurricane Center said in a 2 a.m. New York time advisory. The Category 3 storm closed the Buckeye oil terminal in Freeport, Bahamas, and could disrupt petroleum shipments along the U.S. East Coast.