A massive winter storm is set to impact up to 200 million Americans this weekend, spreading from New Mexico to Maine. The storm could bring snowfalls of up to two feet and wind chills lowering air temperatures to -50 degrees Fahrenheit, making it one of the largest winter storms the country has faced in at least five years.
In related energy news, natural gas prices have surged by 58% over the past week, currently trading around $4.90 per million British thermal units (MMbtu), reaching 14-month highs. This spike is partly due to increased demand from the cold temperatures, which can cause supply issues and is further compounded by reduced energy supplies linked to the embargo on Russian gas.
Additionally, SLB Corp. (formerly Schlumberger) reported better-than-expected Q4 earnings, posting 78 cents per share, a 4.8% earnings surprise, with revenues of $9.75 billion—up 2.2% from consensus estimates. The company’s shares have risen 28.5% since the beginning of the year.
