Submitted by Nick Cunningham via OilPrice.com,
Natural gas prices plunged to their lowest level since November on mild weather in the U.S., which has caused storage levels to decline at a much slower pace than expected.
Contracts for March delivery on the Nymex exchange dipped to $2.63 on February 21, down a third since December. The bearish swing has come after successive EIA reports showing a modest drawdown in gas inventory levels.
In China's latest test of the US response to its escalating claims of islands in the South China Sea, Reuters reports that Beijing has "nearly finished building almost two dozen structures on artificial islands in the South China Sea that appear designed to house long-range surface-to-air missiles." Predictably, such a development will likely raise questions about whether and how the United States will respond, given its vows to take a tough line on China in the South China Sea. The structures appear to be 20 meters (66 feet) long and 10 meters (33 feet) high.
Update: according to an update posted moments ago by the Nevada Weather Service in Reno, the Flash Flood Warning has been canceled as the water has receded in the Dayton Retention Pond and it is no longer expected to fail.
4:25 PM UPDATE: Lyon County Emergency Management - water has receded in the Dayton Retention Pond and it is no longer expected to fail. pic.twitter.com/IetvjiH3AH
— NWS Reno (@NWSReno) February 22, 2017
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The Japanese government is due to lift evacuation orders in heavily contaminated areas around Fukushima. Evacuees from the Fukushima Prefecture village of Iitate are now being pressured to return to their homes despite dangerous levels of radiation according to a report released by Greenpeace They say that the radiation levels there are comparable to Chernobyl’s exclusion zone.
California is bracing itself for more floods and emergency evacuations as 3 dams are at risk of collapse, according to officials. As FEMA officials prepare residents to evacuate the area surrounding the Oroville dam, two more dams have caused authorities in the State to worry. Attention has shifted to Morgan Hill and Anderson Reservoir. Beforeitsnews.com reports: Anderson Reservoir is rapidly filling up and over its recommended capacity. The reservoir is only supposed to be at 68 percent capacity, but it is at 100.04% capacity.