If short-term temperature shifts aren’t enough, the market will be dealing with another weather event this week in the form of a late-season storm in the Gulf of Mexico. Tropical Storm Zeta is entering the Gulf today and is currently forecast by the NHC to track towards southeastern Louisiana as a Category 1 hurricane late tomorrow (see image below). Although major impacts are not necessarily expected compared to previous storms that have battered the same area of the Gulf Coast in recent months, Zeta is an unwelcome pest at this point in the season.
Already, about a third of Gulf production is estimated to be shut-in today as operators evacuate their platforms ahead of the storm. Zeta’s path is forecast to be far enough east to limit impacts on LNG terminals, but it may disrupt additional loadings at Sabine Pass and Cameron LNG for the next couple of days.
Source: Gelber & Associates
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