# Storm cuts U.S. oil, gas, power output, sending prices higher

> A winter storm knocked out power to millions of US homes and businesses and forced Texas refineries to cut gasoline and diesel output. Heating oil futures rose 4.3% and natural gas futures climbed 2.5% in response to the cold and supply disruptions.

- Date: 2022-12-23 · published 2022-12-23T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/38414-storm-cuts-u-s-oil-gas-power-output-sending-prices-higher
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Refinery and gas output losses tighten diesel and energy supply, lifting transport and drying costs for feed operations in the short term.

## Read by commodity

- WTI: bullish ▲
- DIESEL: bullish ▲
- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DIESEL | 2020-08-23 | [Oil Gains as U.S. Gulf Output and Refineries Halted Before Storm - Bloomberg](https://feedsoft.ai/events/51786-oil-gains-as-u-s-gulf-output-and-refineries-halted-before-storm-bloomberg.md) | +0.4% | -7.3% |
| DIESEL | 2017-08-30 | [Crude slips, gasoline jumps as storm shuts a fifth of US fuel output](https://feedsoft.ai/events/8395-crude-slips-gasoline-jumps-as-storm-shuts-a-fifth-of-us-fuel-output.md) | +5.7% | +10.4% |
| DIESEL | 2026-01-26 | [ULSD Rises Amid Winter Storm, Oil Slips on Output Returns](https://feedsoft.ai/events/21245-ulsd-rises-amid-winter-storm-oil-slips-on-output-returns.md) | +9.4% | +13.8% |
| DIESEL | 2026-01-23 | [US energy sector braces for winter storm as crude and natural gas output fall \| Reuters](https://feedsoft.ai/events/4761-us-energy-sector-braces-for-winter-storm-as-crude-and-natural-gas-output-fall.md) | +8.1% | +12.1% |
| DIESEL | 2021-02-15 | [Higher diesel prices likely as freeze shuts down Gulf Coast refineries - FreightWaves](https://feedsoft.ai/events/48826-higher-diesel-prices-likely-as-freeze-shuts-down-gulf-coast-refineries.md) | +4.9% | +9.7% |
| NATGAS | 2024-11-11 | [Nat-Gas Prices Surge on Lower US Gas Output and Colder US Weather](https://feedsoft.ai/events/7027-nat-gas-prices-surge-on-lower-us-gas-output-and-colder-us-weather.md) | +20.1% | +73.4% |
| NATGAS | 2022-01-26 | [U.S. Natural Gas Prices Jump On High Demand \| OilPrice.com](https://feedsoft.ai/events/6916-u-s-natural-gas-prices-jump-on-high-demand-oilprice-com.md) | +22.7% | +11.1% |
| NATGAS | 2022-05-17 | [A hot summer could send rising natural gas prices shooting even higher](https://feedsoft.ai/events/41571-a-hot-summer-could-send-rising-natural-gas-prices-shooting-even-higher.md) | +5.4% | -7.3% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/storm-cuts-us-oil-gas-power-output-sending-prices-higher-2022-12-23/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.