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Hindustan Times
a day ago
- Climate
- Hindustan Times
Wildfire threats, extreme heat alerts on for Europe as heatwave engulfs region
Europe is braced for wildfire threats and scorching weather, as a heat wave engulfs the region this week. Firefighters put out hot ashes following wild fires near the village of Albas, in the Corbieres Massif mountain range, southern France(AFP) The highest red heat alerts have been issued for 12 departments in southwest France, where temperatures as high as 43C (109F) are forecast for areas near Bordeaux and Toulouse on Monday and Tuesday. Amber heat warnings are in place for a swath of the Mediterranean from Spain and Italy to Greece, as a high-pressure system is amplified by former tropical storm Dexter. Climate change is increasing the frequency and intensity of heat waves in Europe, the world's fastest warming continent. That's triggering more extreme weather events, including the deadly wildfires that ravaged Aude in southwest France last week. Those fires, which destroyed houses and vineyards, killing one person and injuring 25, were brought under control on Sunday, local authorities said. However, about 1,300 firefighters are still working to fully extinguish the blaze, which burned 160 square miles — an area larger than Paris. Wildfire risks are very high across much of Greece, including Athens and the surrounding Attica region, along with the largest islands of Crete and Evia. Temperatures are set to reach 41C in parts of the mainland. Strong winds drove more than 90 wildfires across the country over the weekend, and two electricity workers were detained on Saturday over alleged negligence after a severed cable sparked a blaze in east Attica that burnt about 16 square kilometers. Authorities have also issued red alerts in Croatia and Serbia, where temperatures of up to 38C will raise fire risks and stress power grids. Southern Spain could reach 42C, according to state forecaster AEMET. Temperatures in London could hit the mid-30s on Tuesday, as the heat wave spreads across parts of the UK, according to the Met Office. The UK Health Security Agency has issued yellow weather alerts for all regions south of Yorkshire and warned that overnight lows in many areas might not drop below 20C. Germany will also be impacted, with temperatures in the Upper Rhine climbing to 38C this week. Cooling demand is forecast to surge in France during the heat wave, data from Atmospheric G2 and Bloomberg models show. Electricite de France SA said last week it would likely need to curb output from nuclear plants along the Garonne and Rhone rivers, as high temperatures compromise reactor cooling procedures. On Monday, EDF said it planned to keep one Golfech unit in operation to meet electricity demand.
Yahoo
4 days ago
- Business
- Yahoo
Outlook for Hot US Temps Boosts Nat-Gas Prices
September Nymex natural gas (NGU25) on Wednesday closed up +0.067 (+2.23%). Sep nat-gas prices on Wednesday settled sharply higher for a second day on forecasts for hot temperatures over the next week and into mid-August that would boost nat-gas demand from electricity providers to meet demand for increased air-conditioning. Forecaster Atmospheric G2 said Wednesday that forecasts shifted warmer for much of the US for August 11-15 and shifted warmer over the eastern two-thirds of the country for August 16-20. More News from Barchart Unusual Options Volume? Why Only BP Stock Passed the Quantitative Sniff Test This Dividend Stock Yields Almost 7.5% and Looks Set To Gain from Trump's Trade Deals: Time to Buy? Crude Prices Slide on a Possible Russian Air Truce with Ukraine Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Nat-gas prices also garnered support Wednesday from expectations for a smaller-than-normal build in weekly nat-gas supplies. The consensus is that Thursday's weekly nat-gas inventories rose +9 bcf for the week ended August 1, below the five-year average for the week of +29 bcf. On Monday, nat-gas prices sank to a 3.5-month low on higher US nat-gas production and the outlook for even higher output in the near term. Baker Hughes reported last Friday that the number of active US nat-gas drilling rigs in the week ending August 1 rose by +2 rigs to a 2-year high of 124 rigs. Lower-48 state dry gas production on Wednesday was 107.9 bcf/day (+5.0% y/y), according to BNEF. Lower-48 state gas demand on Wednesday was 76.9 bcf/day (-6.8% y/y), according to BNEF. Estimated LNG net flows to US LNG export terminals on Wednesday were 16.1 bcf/day (+20.4% w/w), according to BNEF. An increase in US electricity output is positive for nat-gas demand from utility providers. The Edison Electric Institute reported Wednesday that total US (lower-48) electricity output in the week ended August 2 rose +0.9% y/y to 99,367 GWh (gigawatt hours), and US electricity output in the 52-week period ending August 2 rose +2.7% y/y to 4,259,351 GWh. Last Thursday's weekly EIA report was bearish for nat-gas prices since nat-gas inventories for the week ended July 25 rose +48 bcf, above the consensus of +41 bcf and the 5-year average of +24 bcf for the week. As of July 25, nat-gas inventories were down -3.9% y/y, but were +6.7% above their 5-year seasonal average, signaling adequate nat-gas supplies. As of August 4, gas storage in Europe was 70% full, compared to the 5-year seasonal average of 78% full for this time of year. Baker Hughes reported last Friday that the number of active US nat-gas drilling rigs in the week ending August 1 rose by +2 to a 2-year high of 124 rigs. In the past ten months, the number of gas rigs has risen from the 4-year low of 94 rigs reported in September 2024. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 days ago
- Business
- Yahoo
Nat-Gas Prices Rebound as US Weather Forecasts Turn Hotter
September Nymex natural gas (NGU25) on Tuesday closed up +0.078 (+2.66%). Sep nat-gas prices on Tuesday settled sharply higher as short covering emerged after forecasts turned hotter for US weather that will boost nat-gas demand from electricity providers to power increased air-conditioning usage. Forecaster Atmospheric G2 said Tuesday that forecasts shifted warmer for much of the US for August 10-14 and shifted warmer over the eastern two-thirds of the country for August 15-19. More News from Barchart Nat-Gas Prices Tumble on Higher US Nat-Gas Production Global Oil Glut Concerns Weigh on Crude Prices Unusual Options Volume? Why Only BP Stock Passed the Quantitative Sniff Test Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! On Monday, nat-gas prices sank to a 3.5-month low on higher US nat-gas production and the outlook for even higher output in the near term. Ramped-up US nat gas production is bearish for prices as recent US nat-gas output is up year-over-year. Also, expectations for even higher US nat-gas production are weighing on nat-gas prices after last Friday's weekly report from Baker Hughes showed that the number of active US nat-gas drilling rigs in the week ending August 1 rose by +2 rigs to a 2-year high of 124 rigs. Lower-48 state dry gas production on Tuesday was 108.0 bcf/day (+3.4% y/y), according to BNEF. Lower-48 state gas demand on Tuesday was 75.6 bcf/day (-10.8% y/y), according to BNEF. Estimated LNG net flows to US LNG export terminals on Tuesday were 15.5 bcf/day (+3.9% w/w), according to BNEF. An increase in US electricity output is positive for nat-gas demand from utility providers. The Edison Electric Institute reported last Wednesday that total US (lower-48) electricity output in the week ended July 26 rose +8.1% y/y to 98,772 GWh (gigawatt hours), and US electricity output in the 52-week period ending July 26 rose +2.7% y/y to 4,258,448 GWh. Last Thursday's weekly EIA report was bearish for nat-gas prices since nat-gas inventories for the week ended July 25 rose +48 bcf, above the consensus of +41 bcf and the 5-year average of +24 bcf for the week. As of July 25, nat-gas inventories were down -3.9% y/y, but were +6.7% above their 5-year seasonal average, signaling adequate nat-gas supplies. As of July 30, gas storage in Europe was 68% full, compared to the 5-year seasonal average of 76% full for this time of year. Baker Hughes reported last Friday that the number of active US nat-gas drilling rigs in the week ending August 1 rose by +2 to a 2-year high of 124 rigs. In the past ten months, the number of gas rigs has risen from the 4-year low of 94 rigs reported in September 2024. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
02-08-2025
- Business
- Yahoo
Nat-Gas Prices Recover on Forecasts for Hotter US Weather
September Nymex natural gas (NGU25) on Thursday closed up +0.061 (+2.00%). Sep nat-gas prices on Thursday recovered from a 3.25-month low and settled higher after forecasts for warmer US weather sparked short-covering in nat-gas futures. Forecaster Atmospheric G2 said Thursday that forecasts shifted warmer for the western half of the US for August 5-9, with above-average temperatures seen expanding across the Southwest and Texas, which will boost nat-gas demand from electricity providers to power air-conditioning usage. More News from Barchart Crude Oil and the US Dollar Index Are Heading Higher, and Commodity Traders Are Taking Note Nat-Gas Prices Retreat on a Mixed Weather Forecast Crude Prices Supported by President Trump's Threats to Sanction Russian Energy Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! Nat-gas prices initially tumbled to a 3.25-month low Thursday after weekly nat-gas supplies rose more than expected. The EIA reported that nat-gas inventories rose +48 bcf in the week ended July 25, higher than expectations of +41 bcf and well-above the five-year average for this time of year at +24 bcf. In addition, higher US nat-gas production is weighing on prices as recent US nat-gas output is up year-over-year. Moreover, expectations for even higher US nat-gas production are also weighing on nat-gas prices after last Friday's weekly report from Baker Hughes showed that the number of active US nat-gas drilling rigs in the week ending July 25 rose by +5 to a nearly 2-year high of 122 rigs. Lower-48 state dry gas production on Thursday was 107.8 bcf/day (+2.4% y/y), according to BNEF. Lower-48 state gas demand on Thursday was 80.5 bcf/day (-7.0% y/y), according to BNEF. Estimated LNG net flows to US LNG export terminals on Thursday were 14.9 bcf/day (-2.4% w/w), according to BNEF. An increase in US electricity output is positive for nat-gas demand from utility providers. The Edison Electric Institute reported Wednesday that total US (lower-48) electricity output in the week ended July 26 rose +8.1% y/y to 98,772 GWh (gigawatt hours), and US electricity output in the 52-week period ending July 26 rose +2.7% y/y to 4,258,448 GWh. Thursday's weekly EIA report was bearish for nat-gas prices since nat-gas inventories for the week ended July 25 rose +48 bcf, above the consensus of +41 bcf and the 5-year average of +24 bcf for the week. As of July 25, nat-gas inventories were down -3.9% y/y, but were +6.7% above their 5-year seasonal average, signaling adequate nat-gas supplies. As of July 29, gas storage in Europe was 68% full, compared to the 5-year seasonal average of 76% full for this time of year. Baker Hughes reported last Friday that the number of active US nat-gas drilling rigs in the week ending July 25 rose by +5 to a nearly 2-year high of 122 rigs. In the past ten months, the number of gas rigs has risen from the 4-year low of 94 rigs reported in September 2024. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
01-08-2025
- Business
- Yahoo
Nat-Gas Prices Slip on Robust US Production and Ample Supplies
September Nymex natural gas (NGU25) on Friday closed down -0.023 (-0.74%). Sep nat-gas prices on Friday gave up an early advance and moved lower as US nat-gas output continues to increase year-over-year and current gas supplies are well above normal. As of July 25, nat-gas inventories were +6.7% above their 5-year seasonal average, signaling adequate nat-gas supplies. More News from Barchart Nat-Gas Prices Recover on Forecasts for Hotter US Weather Crude Prices Retreat on Dollar Strength and US Tariff Policies Crude Prices Fall on Concern Tariff Policies Will Slow Energy Demand Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Nat-gas prices initially moved higher on Friday due to forecasts for hot US weather, which will boost nat-gas demand from electricity providers to power air-conditioning usage. On Friday, forecaster Atmospheric G2 said that forecasts shifted warmer for the Midwest, Southwest, and Texas for August 6-10, and forecasts turned hotter across much of the eastern half of the US for August 11-15. On Thursday, nat-gas prices tumbled to a 3.25-month low after weekly nat-gas supplies rose more than expected. Also, higher US nat-gas production is weighing on prices as recent US nat-gas output is up year-over-year. Moreover, expectations for even higher US nat-gas production are also weighing on nat-gas prices after Friday's weekly report from Baker Hughes showed that the number of active US nat-gas drilling rigs in the week ending August 1 rose by +2 to a 2-year high of 124 rigs. Lower-48 state dry gas production on Friday was 108.1 bcf/day (+3.4% y/y), according to BNEF. Lower-48 state gas demand on Friday was 76.1 bcf/day (-13.0% y/y), according to BNEF. Estimated LNG net flows to US LNG export terminals on Friday were 15.2 bcf/day (+2.3% w/w), according to BNEF. An increase in US electricity output is positive for nat-gas demand from utility providers. The Edison Electric Institute reported Wednesday that total US (lower-48) electricity output in the week ended July 26 rose +8.1% y/y to 98,772 GWh (gigawatt hours), and US electricity output in the 52-week period ending July 26 rose +2.7% y/y to 4,258,448 GWh. Thursday's weekly EIA report was bearish for nat-gas prices since nat-gas inventories for the week ended July 25 rose +48 bcf, above the consensus of +41 bcf and the 5-year average of +24 bcf for the week. As of July 25, nat-gas inventories were down -3.9% y/y, but were +6.7% above their 5-year seasonal average, signaling adequate nat-gas supplies. As of July 30, gas storage in Europe was 68% full, compared to the 5-year seasonal average of 76% full for this time of year. Baker Hughes reported Friday that the number of active US nat-gas drilling rigs in the week ending August 1 rose by +2 to a 2-year high of 124 rigs. In the past ten months, the number of gas rigs has risen from the 4-year low of 94 rigs reported in September 2024. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
