Hurricane Ida weakens to a tropical storm – NHC

The latest update on Ida

From the NHC:

Tropical Storm #Ida Advisory 17: Ida Now a Tropical Storm Over Southwestern Mississippi. Dangerous Storm Surge, Damaging Winds, and Flash Flooding Continue Over Portions of Southeastern Louisiana and Southern Mississippi.

Well, at least this one is slowly getting out of the way but it surely won’t be the last for Louisiana this season so keep an eye out for the next one when it comes around.

OPEC+ reportedly likely to roll over output policy this week

Reuters reports, citing three OPEC+ sources on the matter

The report says that OPEC+ is likely to keep its oil output policy unchanged i.e. planned 400k bpd hike starting from September, when they meet on 1 September this week.
One of the sources is reported as saying that:

“Current oil prices around $70 are okay. OPEC+ is likely to continue as planned with the increase of 400k bpd.”

North Korea appears to have resumed operation of its plutonium-producing reactor

Producing plutonium will allow the country to expand its arsenal of nuclear weapons.

Wall Street Journal report on findings of the UN Atomic Agency:
  • “Since early July, there have been indications, including the discharge of cooling water, consistent with the operation of the reactor,” said the report by the International Atomic Energy Agency.
  • and there are indications that North Korea is also using a nearby laboratory to separate plutonium from spent fuel previously removed from the reactor.
The agency described the twin developments as “deeply troubling” and a clear violation of United Nations Security Council resolutions.
North Korea’s plutonium-producing reactor is at Yongbyon
  • appeared to have been inactive from December 2018 until the beginning of July 2021
Producing plutonium will allow the country to expand its arsenal of nuclear weapons. 

US gulf – Hurricane Ida – more than 95% Gulf crude oil, 94% natural gas offline

Platts with the report that more than 95% Gulf crude oil, 94% natural gas offline:
  • many Louisiana refineries and petrochemical plants were closed in advance of the major storm
Also reports that:
  • Colonial pipeline says it is temporarily shutting fuel lines from Houston, Texas, to Greensboro, North Carolina
US President Biden says it could be weeks before electricity is restored to some areas
  • damage from the hurricane is likely beyond coast
Oil trading (CL futures) begins at 6pm US ET (2200 GMT)
hurricane ida 30 August 2021
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