Storm cuts US oil, gas, power output; prices up

Frigid cold and blowing winds on Friday knocked out power and cut energy production across the United States, driving up heating and electricity prices as the nation prepared for holiday celebrations.Winter Storm Elliott brought sub-freezing temperatures and extreme weather alerts to about two-thirds of the United States, with cold and snow in some areas to linger through the Christmas holiday.More than 1.5 million homes and businesses lost power, oil refineries in Texas cut gasoline and diesel production on equipment failures and heating and power prices surged on the losses. Oil and gas output from North Dakota to Texas suffered freeze-ins, cutting supplies.

Some 1 million barrels of daily refining capacity in the U.S. Gulf Coast was shut due to the bitterly cold temperatures. Affected plants included Motiva Enterprises' Port Arthur, Texas, complex which can process more than 600,000 barrels of oil a day, making it the biggest refinery in the United States.

Sempra Infrastructure's Cameron LNG plant in Louisiana said weather disrupted its production of liquefied natural gas without providing details. Crews at the 12 million tonne per year facility were trying to restore output, it said.

Freeze-ins - where ice crystals halt oil and gas production - this week trimmed production in North Dakota's oilfields by 300,000 to 350,000 barrels per day, or a third of normal.