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Meanwhile, Hurricane Jose Expected To Form By Friday, Follow In Irma’s Footsteps

September 5, 2017 Tyler Durden 0

As if the speculation over the potential destruction from Hurricane Irma was not enough, which as of this morning has been dubbed the strongest Atlantic Hurricane in NHC records, a new Tropical Storm – Jose – the 10th of the seasons, has formed over the Atlantic, and according to the latest advisory, “Jose could become a hurricane by Friday.”

Meanwhile, #TS_Jose has formed & we’re in the cone of uncertainty, meaning after #Irma, #Jose will likely follow.https://t.co/V1XXQT7oKv? pic.twitter.com/cbNGXbfPx2

— Antigua Met Service (@anumetservice) September 5, 2017

In other words, in a worst case scenario just as Florida struggles to emerge from Irma’s potential damage, it could be hit with a second hurricane just days behind it.

From the NHC:

At 1100 AM AST (1500 UTC), the center of Tropical Storm Jose was located near latitude 12.3 North, longitude 39.1 West. Jose is moving toward the west-northwest near 13 mph (20 km/h) and a movement toward the west or west-northwest at a slightly faster rate of forward speed is expected during the next two days.

 

Maximum sustained winds are near 40 mph (65 km/h) with higher gusts. Some strengthening is forecast during the next 48 hours and Jose could become a hurricane by Friday.

 

Tropical-storm-force winds extend outward up to 45 miles (75 km) from the center.

 

The estimated minimum central pressure is 1008 mb (29.77 inches).

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Debt Ceiling Turmoil: 4Wk Bills Price At Highest Yield Since Sept 2008 On Technical Default Fears

September 5, 2017 Tyler Durden 0

While traditionally few care about T-Bill auction results, which are usually a rather subdued affair, today was different: with today’s $20 billion in 4-Week Bills maturing on October 5, or smack in the middle of the interval when the US is expected to…

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OPEC Deal Could Be Extended Beyond March 2018

September 5, 2017 Irina Slav 0

The crude oil production cut deal that OPEC, Russia, and several other producers agreed to late last year could get yet another extension. This extension would push the deal beyond the March 31, 2018 end date that was agreed earlier this year, according to Russia’s Energy Minister Alexander Novak, speaking to news agency TASS. Novak said he had discussed another extension with his Saudi counterpart, Khalid al-Falih, at a meeting in Saint Petersburg earlier this year, noting that all options are on the table and no decisions have been made…

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UK Aims To Lead Global Oil Decommissioning Industry

September 5, 2017 Tsvetana Paraskova 0

The UK, whose offshore waters hold some of the most mature oil and gas fields, has the chance to become a pioneer in oil decommissioning, and should develop the expertise and sell it globally, Andrew Jones, Exchequer Secretary to the Treasury, said on Tuesday, ahead of his speech at the ‘Offshore Europe’ oil and gas conference starting in Aberdeen today.   The North Sea will be one of the first regions in the world to begin decommissioning—clean-up and dismantling old oil rigs and pipelines—on a large scale. “The…

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Israel evicts Palestinian family, hands East Jerusalem home to settlers

September 5, 2017 Middle East Monitor 0

A Palestinian family was evicted from their home in occupied East Jerusalem this morning after an Israeli court rejected the family’s claim that the land they were living on was different to the land claimed by Israeli settlers as having belonged to Jews before the division of Jerusalem into Israeli and Jordanian-controlled parts. But the eviction was not expected to be carried out until after the Muslim festival of Eid Al-Adha, which ended yesterday. The family had been planning to pursue other legal means to prevent the eviction and activist Eyal Raz, who is working with them, said they had obtained an order that prevented them from being evicted for seven days while they took the issue to the court. “What […]

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In A Bold Move, Saudis Raise Crude Prices For Asia

September 5, 2017 Irina Slav 0

Saudi Arabia’s Aramco said yesterday that it will raise the October price of its Arab Light crude oil blend for Asian clients by US$0.55 a barrel to a premium of US$0.30 to the Oman/Dubai average. The increase signals growing demand for Saudi crude and improved refining margins in Asia thanks to the supply disruptions in the Gulf of Mexico that Hurricane Harvey caused. The average profit margin for a refinery in Singapore, Reuters’ Clyde Russell noted in a recent column, hit US$10.21 a barrel in the wake of Harvey. Aramco is certainly…

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