{"id":9360,"date":"2024-09-30T15:14:20","date_gmt":"2024-09-30T19:14:20","guid":{"rendered":"https:\/\/www.fundamentalanalytics.com\/?p=9360"},"modified":"2024-10-01T15:14:54","modified_gmt":"2024-10-01T19:14:54","slug":"energy-prices-supported-by-hurricane-helene","status":"publish","type":"post","link":"https:\/\/www.fundamentalanalytics.com\/es\/energy-prices-supported-by-hurricane-helene\/","title":{"rendered":"Energy Prices Supported by Hurricane Helene"},"content":{"rendered":"\n\n\n
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Energy commodities reacted significantly to the repercussions from Hurricane Helene.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Crude Oil<\/p>\n

WTI futures remain bearish<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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  • WTI crude futures closed around $68.2 per barrel on Friday, recovering some of the previous session’s losses as Hurricane Helene forced Gulf of Mexico producers to cut output.<\/li>\n
  • Meanwhile, investors weighed fresh stimulus from top crude importer China against expectations for higher global supply.<\/li>\n
  • Persistent weak demand from China has been pressuring the oil market for several months.<\/li>\n
  • Futures plunged following reports that Saudi Arabia plans to increase production later this year, with OPEC+ scheduled to raise output by 180k barrels\/day in December.<\/li>\n<\/ul>\n

    Gasoline<\/p>\n

    Gasoline prices struggle to recover as US exports strengthen<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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    • Gasoline net exports marked a 7-month high change, on a yearly basis, reaching +229k bpd, +28.3% y\/y.<\/li>\n
    • US gasoline futures climbed above $1.95 per gallon, rebounding from the February 2021 low of $1.88 observed on September 10th.<\/li>\n
    • This increase was largely driven by concerns over supply disruptions in the Gulf Coast, where 42% of crude oil production in the US Gulf of Mexico has been halted.<\/li>\n
    • The IEA recently highlighted a slowdown in global oil demand growth, particularly due to China’s economic slowdown, and has forecast a potential supply surplus in 2024, even if OPEC+ maintained its production cuts.<\/li>\n
    • Data showed that China’s crude oil imports decreased by 3.1% from January to August 2024 compared to the same period the previous year.<\/li>\n<\/ul>\n

      Natural Gas<\/p>\n

      Natural gas reaches 3-month high<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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      • US natural gas futures surged nearly 5% to $2.9\/MMBtu, the highest in three months, as Hurricane Helene hit the Southeast, prompting Gulf of Mexico producers to cut output and leaving millions without power.<\/li>\n
      • Prices were further supported by strong gas flows to Venture Global’s Plaquemines LNG export plant in Louisiana, nearing mid-August highs of 35 mcf\/day, though still a fraction of its full 1.8 bcf capacity.<\/li>\n
      • EIA reported that natural gas inventories were strengthened nearly +4% compared to the previous year, raising concerns for a possible correction in the aftermath of the hurricane.<\/li>\n
      • Long non-commercial positions plummeted for the 4th consecutive week, the lowest from late June, as speculators anticipate mild temperatures to add bearish movement in the short run.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>","protected":false},"excerpt":{"rendered":"

        Energy commodities reacted significantly to the repercussions from Hurricane Helene. Crude Oil WTI futures remain bearish WTI crude futures closed around $68.2 per barrel on Friday, recovering some of the previous session’s losses as Hurricane Helene forced Gulf of Mexico producers to cut output. Meanwhile, investors weighed fresh stimulus from top crude importer China against […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9360","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/posts\/9360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/comments?post=9360"}],"version-history":[{"count":1,"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/posts\/9360\/revisions"}],"predecessor-version":[{"id":9361,"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/posts\/9360\/revisions\/9361"}],"wp:attachment":[{"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/media?parent=9360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/categories?post=9360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/tags?post=9360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}