The Strongest El Niño on Record Lands on the Tightest Energy Market in Years
World's Largest Electric Plane Flies for 27 Minutes on $5 of Power California’s hydrogen fueling network is… What I Cover My focus spans the global energy landscape and the technologies reshaping it, specifically focusing on oil and gas, renewables, and tech-driven market… Romania spent more than 2 million euros this month detonating rocks and sinking barges in the Danube, trying to shove enough water toward the Cernavoda nuclear plant to keep its reactors cool.
13, Nuclearelectricabegan a controlled shutdown of the plant’s second reactor, the first time drought has taken Cernavoda fully offline since 2003.
That is about a fifth of Romania’s electricity.
Dacia and Ford idled their Romanian factories to free up power for everyone else.
Europe’s drought has its own drivers and the equatorial Pacific isn’t one of them.
But it is a clear picture of how a modern grid actually fails, and it lands just as the strongest El Niño in the modern record spins up on the other side of the world.
The World Meteorological Organizationsaid in late Julythat the event will keep intensifying through August-October, with sea surface temperature anomalies in the central and eastern equatorial Pacificexpected to exceed 2.9 degrees Celsiusand peak in November.
For scale, 2015-16 topped out near 2.6 C, 1997-98 at 2.4 C and 1982-83 at 2.1 C.
A positive Indian Ocean Dipole is developing alongside it, which tends to sharpen drought and fire risk around the Indian Ocean basin.
Worth knowing: WMO doesn’t use the phrase "super El Niño." It isn’t an operational classification, however thoroughly the term has come to cover it.
Most of the market has filed this under bearish for gas.
Mild winter, softer heating demand, a little breathing room for European buyers.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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