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"Overwhelming Signal" - Major Winter Storm Threats For Million Of Americans Within Next Five Days

Tyler Durden's Photo
by Tyler Durden
Friday, Feb 12, 2021 - 12:50

Earlier this week, we told readers in a note titled "Prepare For "Onslaught Of Winter Storms" In Coming Days" that "multiple rounds of snow, ice in the Midwest and East as bitterly cold temperatures grip parts of the nation." A new weather model released on Thursday suggests this Saturday through next week potentially dangerous winter storms could materialize. 

On Thursday, meteorologists at BAMWX updated their "Impactful Weather Outlook" between Feb. 13 and Feb. 21, indicating: major winter storms are possible" from Denver to Dallas to Chicago to Cleveland to Mid-Atlantic and Northeast states. 

"An overwhelming signal seems to be developing for a major winter storm from the Deep South to the Ohio Valley into the NE early next week. Heres our 3-7 day hazards map and a blend of models 75th percentile data. Worth note deterministic data showing major snow numbers. #Snow," BAMWX's official Twitter account tweeted. 

Along with multiple storms forecasted across Midwest to the Northeast, a polar vortex split has dumped the winter's most brutally cold weather into the country's mid-section and the Northeast. This week temperatures were as low as 43 degrees below zero in northern Minnesota. 

Diving temperatures helped catapult propane demand to a 17-year high last week.

Source: Bloomberg 

Arctic temperatures forced tens of millions of Americans to turn up their thermostats. Cooler temps could be sticking around through at least the mid-part of the month. 

Increased demand for propane sent spot prices in Mont Belvieu, Texas, soaring, to around 85.50 cents per gallon, according to Refinitiv data, hitting two-year highs last month. 

Besides propane, spot natgas prices have exploded in Texas, Oklahoma, Kansas, as a sharp rise in heating demand has been seen in recent weeks because of fridge temperatures. 

Southern Star spread to Henry Hub natgas hit a record high on Thursday and usually trades around $2. The move is unprecedented. 

The coldest point of the Arctic blast could be this weekend. Demand for energy products could certainly increase from here into next week. 

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