Natural gas got a boost after a report that U.S. electric companies are preparing for weather that could close some East Coast nuclear plants with Hurricane Sandy coming ashore. Worries about nuclear power may go beyond that.
The U.S. securities industry canceled all equity trading today and will shut bond markets early, moving to protect workers as Hurricane Sandy barreled toward New York City with 85-mile-per-hour winds and the threat of an 10-foot sea surge.
As the East Coast and the largest city in the United States, New York, gets ready for Franken-storm, the energy markets will price in the risk and the balance between lost supply and the destruction of demand.
Hurricane Sandy is far from a dandy, threatening to be one of the worst storms in history. Because it will blow away ghosts and goblins it is being called the “Frankenstorm.” It will also blow energy demand.