2024 Atlantic Hurricane Season: Will Beryl Break Oil Prices?

[Energy and Capital Header] Practical Investment Analysis for the New Energy Economy 2024 Atlantic Hurricane Season: Will Beryl Break Oil Prices? Keith Kohl | Jul 04, 2024 Nobody is allowed to be shocked at the intensity of Hurricane Beryl today, or any other future storms that develop during the 2024 Atlantic Hurricane season for that matter. In fact, this kind of storm was to be expected, wasn’t it? Back in May, the National Oceanic and Atmospheric Administration (NOAA) [warned us]( all that an above-normal hurricane season was coming this summer. According to their projections, we should see between 17 and 25 named storms, but only eight of which would generate enough wind speeds to reach hurricane status — and most of those would be major storms between a category 3 and category 5. However, the reason why may elude most people. You see, NOAA scientists have noted that as a strong El Nino comes to an end, the rapid transition to La Nina conditions are conducive to an overactive Atlantic hurricane season this year. There were a few other reasons why things might get dicey this year, including an above-normal west African monsoon that could produce African easterly waves leading to stronger and longer-lasting Atlantic storms. That’s where Beryl enters the picture. The second named storm of the season grew into a Category 3 hurricane last Sunday — just 42 hours after the formation of a tropical depression. The concern was the quickness with which this storm intensified. Beryl became the earliest Category 4 Atlantic hurricane to form, and then the earliest Category 5 as well. If there’s one thing that can get the oil markets to sit up and start paying attention, it’s a powerful hurricane barreling its way to the Gulf of Mexico. So, should oil investors be worried... or excited? Let’s take a look... [hurricane-1] [The King of American Lithium (Not Albemarle)]( Mining giant Albemarle owns the only active lithium mine in America. But a tiny lithium company is about to change that. It’s set to build America’s first large-scale lithium production facility, positioning itself to become one of the globe's leading mining giants. [Go here now for the full story.]( Will Beryl Break Oil Prices During the 2024 Atlantic Hurricane Season For us, every day that oil prices go above $80 per barrel is like a day on the farm; every meal is a banquet, every paycheck a fortune. Once Hurricane Beryl appeared on everyone’s radar, the immediate question is: What path would it take? You know just as well as I do that the path of these storms will determine the impact on oil prices. The path that hurricanes take through the Gulf of Mexico play an incredibly significant role on how oil prices will be affected. For starters, roughly half of the U.S. petroleum refining capacity is located along the Gulf coast. That’s also not to mention that most of those refineries are geared towards heavy oil, which is crucial in the production of products like diesel. However, before any hurricane smashes into those refineries, it will have already caused a potentially major disruption in offshore production as oil platforms are evacuated. Elon Musk Predicts Electricity Shortages in Two Years AI is about to unleash an energy crisis... The CEO of AI startup Aible says, "The world is actually headed for a really bad energy crisis because of AI." The University of Pennsylvania expects AI’s hunger for electricity to "spiral out of control." And Elon Musk predicts, "[There’ll be] electricity shortages... in about two years." That’s why AI’s hunger for power requires a massive energy ramp-up. One that will unleash billions, even trillions of dollars. And one little-known firm from Ohio is in the perfect position to capture a substantial amount of this windfall. [Find out how to position yourself today for maximum gains.]( Make no mistake, Hurricane Beryl is a nasty storm. The fears were enough to push WTI prices well above $84 per barrel on Monday. But are those same fears warranted right now? That’s the good news. As you can see below, much of the offshore platforms are located between Houston and Mobile: [gulf map oil rigs] Now take a look at the current path forecasted for Hurricane Beryl: [beryl storm path] If Beryl holds true to the forecasts, the U.S. oil infrastructure along the Gulf of Mexico will be spared from any major threats. Before you start breathing a sigh of relief, let’s keep in mind that this is just the second named storm of a six-month season that started on June 1, 2024. But here’s the thing... Hurricanes are a wild-card when it comes to oil price catalysts. These storms can be the black swan event that causes an overnight spike to $100/bbl, but they aren’t necessary to keep prices high this summer. For that, we’re already seeing the bullish draws on inventories, and a disconnect over certain [demand delusions.]( U.S. demand is only down slightly year-over-year, and our consumption is still averaging approximately 20.5 million barrels per day over the last month. It’s not the hurricanes that will sustain higher oil prices, it’s the tightening supply/demand picture as we head down the second half of 2024. Until next time, [Keith Kohl Signature] Keith Kohl [[follow basic]Check us out on YouTube!]( Make 6 Triple-Digit Gains Every Month Hacking This $1.1 Trillion Market If someone told you about an investment strategy that has been proven to garner six triple-digit winners in a month, would you believe it to be true? I would probably be a little skeptical myself if I didn’t personally witness it myself. 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