Global Markets

Snowstorms boost price volatility in the US northeast

Gas prices will remain volatile in the northeastern US over the coming weeks as the region has been hit by severe snowstorms Gas prices will remain volatile in the northeastern US over the coming weeks as the region has been hit by severe snowstorms.
By Abhishek Kumar 15 March 2017 0 25065

The northeast of the United States is facing its worst March snowstorm since 1993, with heavy snowfall in New England and the country’s Middle Atlantic region. This has boosted regional gas prices and will increase price volatility over the coming weeks as forecasts suggest the cold weather will continue.

The region is being affected by a Nor’easter – a large cyclone – that has forced multiple states to declare an emergency. Weather forecasts suggest a 55% chance of below-average temperatures in New England and the Middle...