(Bloomberg) - Hurricane Matthew has thousands fleeing the U.S. Southeast where it’s expected to batter the coastline and threaten electricity supplies to more than 1 million people. Potential losses are seen as high as $15 billion.

The eye of Matthew is moving near the central Bahamas with maximum winds at 115 miles (185-kilometers) per hour and is expected to intensify as it approaches Florida, the U.S. National Hurricane Center said in an 11 p.m. New York time advisory. The Category 3 storm closed the Buckeye oil terminal in Freeport, Bahamas, and could disrupt oil shipments along the U.S. East Coast.

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