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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
ENERGY
An initial forecast from Colorado State University suggests an extremely active Atlantic hurricane season in 2024 primarily due to record warm tropical and eastern subtropical Atlantic sea surface temperatures.
- CSU is predicting 23 named storms during the June 1 to Nov. 30 season with eleven to become hurricanes and five to reach major hurricane strength.
- A warm Atlantic and the likely transition to La Niña conditions over the season lead to favourable conditions for the formation of hurricanes with similar characteristics to very active hurricane seasons in 1998, 2010 and 2020.
- the probability of major hurricanes making landfall:
- The forecast suggests a Hurricane landfalling probability of 62% for the entire US coastline (average from 1880–2020 is 43%).
- This is the highest prediction for hurricanes that CSU has ever issued with their April outlook but has the lowest level of skill of operational seasonal hurricane forecasts with considerable changes possible.
- The report follows a recent prediction of an “explosive” hurricane season this year with as many as 25 named storms according to AccuWeather Inc.
- An active season could threaten US and Mexico refinery output as well as oil and gas production with many facilities based on the coast in the Gulf of Mexico.
Source: Colorado State University
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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