Freezing weather is sweeping across much of the US, putting strain on electricity grids and driving up demand for the heating and power-plant fuel. The storm knocked out about 12% of the country’s natural gas production, limiting supplies to power plants and home furnaces that burn the fuel. Europe relies on the US for most of its gas imports since Russia’s full-scale invasion of Ukraine in 2022 upended traditional pipeline flows and any disruption to US export capacity can quickly tighten the market. Bloomberg’s Dan Murtaugh breaks down the situation.
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