Storm of Century Leaves Dozens Dead, Creates Economic Chaos in USA

A deadly winter storm that had not occurred in centuries hit the United States of America (USA), leaving dozens of deaths and material losses, and the storm caused power outages in many states across the country, while oil prices rose, as expected, during yesterday’s trading (Tuesday), to the highest level in three weeks.

The new rise in oil prices was supported by the reduction of energy production in the USA.

The British and American markets were closed the day before yesterday (Monday) for the Christmas holidays.

Kazuhiko Saito, senior analyst at Fujitomi Securities, said, according to Reuters, that oil drew support from fears of supply disruption due to the winter storms in the United States. He added, “But the weather is expected to improve in the United States this week; Which means that the upward wave may not last for long.