Record-Setting Cold Shakes Up America’s Commodities Markets
- Historic cold gripping U.S. could last weeks, say forecasters
- Expected snowfall in Northeast may provide short-term relief
Record-Setting U.S. Cold Roils Commodities Markets
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A record-breaking cold that’s threatening to spur heating-fuel shortages from the East Coast to Texas has driven up natural gas demand to unprecedented levels and put crops across the U.S. wheat belt at risk.
Wind chill advisories and freeze warnings blanket the central U.S., while winter storm watches are in place from Massachusetts to Florida. Ice has slowed fuel deliveries from New York harbor, the gasoline and diesel hub for the region, while power prices are trading near multi-year highs.