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☆ Storm Franklin hits Dominican Republic and Haiti, killing one
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +2 min

Franklin, which brought stormy winds and rainfall across the Dominican Republic and neighboring Haiti, is forecast to gather strength over the Atlantic Ocean and could near hurricane force this weekend. "Franklin could be near hurricane strength over the southwestern Atlantic by Saturday," the NHC said, saying it expected the storm to gradually strengthen from its current maximum sustained winds near 40 mph. The head of the Dominican COE emergency services a man had been found dead earlier on Wednesday in San Cristobal province, after trying to swim through floodwaters. In a briefing with COE, Dominican President Luis Abinader said the government would attend to communities whose infrastructure was damaged by the storm and that schools and businesses would resume on Thursday. The storm also cut off access to six Dominican communities and damaged roads, water infrastructure and the electrical grid, emergency services said.

Persons: SANTO, Storm Franklin, Franklin, Luis Abinader, Paul Mathiasen, Harold Isaac, Sarah Morland, Harshit Verma, Ananya, Lincoln Organizations: PORT, U.S, National Hurricane Center, NHC, country's Hydro, Meteorological Unit, The United Nations, Food Programme, Thomson Locations: SANTO DOMINGO, Dominican Republic, Hispaniola, Haiti, Puerto Plata, Dominican, Atlantic, San Cristobal province, Sud, Santo Domingo, Port, Mexico City, Bengaluru

☆ Tropical Storm Franklin to bring heavy rains, US NHC says
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

Aug 20 (Reuters) - Tropical Storm Franklin is expected to cause heavy rains over parts of Hispaniola and Puerto Rico in the Atlantic Ocean, the U.S. National Hurricane Center (NHC) said on Monday. The storm was located about 250 miles (305 km) south-south-east of Santo Domingo, Dominican Republic, packing maximum sustained winds of 50 miles per hour (85 km per hour), the Miami-based forecaster said. "The heavy rainfall may produce areas of flash and urban flooding as well as river rises and mudslides. With Franklin forecast to strengthen further during the next 48 hours, a Tropical Storm Warning has also been issued for the southern coast of Hispaniola, which includes the Dominican Republic and Haiti. Reporting by Deep Vakil and Ananya Bajpai in Bengaluru, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

Persons: Storm Franklin, Ed Osmond Organizations: U.S, National Hurricane Center, Franklin, Thomson Locations: Hispaniola, Puerto Rico, Santo Domingo, Dominican Republic, Miami, Haiti, Bengaluru

☆ Goldman upgrades oil demand outlook as market tempers growth pessimism
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

Companies Goldman Sachs Group Inc FollowJuly 30 (Reuters) - Goldman Sachs on Sunday revised up its global oil demand forecast for the year while sticking to its 12-month Brent price projection of $93 per barrel as higher realized inventories offset the demand boost from a less pessimistic growth outlook. Goldman analysts estimate global oil demand climbed to an all-time high of 102.8 million barrels per day (bpd) in July and see solid demand driving a larger-than-expected 1.8 million bpd deficit in the second half this year and a 0.6 million bpd deficit in 2024. A reduced recession risk and a strong effort by the Organization of the Petroleum Exporting Countries (OPEC) to push up prices support Goldman's view on higher oil prices and an outlook for less volatility, the analysts wrote in a note. Oil prices hovered near three-month highs on Monday, set to post their biggest monthly gains in over a year on expectations that Saudi Arabia would extend voluntary output cuts into September and tighten global supply. The Wall-Street bank upgraded its oil demand estimate by around 550,000 bpd and sees 2023 supply higher by around 175,000 bpd.

Persons: Goldman Sachs, Brent, Goldman, Ananya Bajpai, Swati Verma, Tom Hogue Organizations: Goldman Sachs, Organization of, Petroleum, Goldman, Saudi, West Texas, Thomson Locations: Saudi Arabia, Saudi, Bengaluru

Copper prices have been range-bound in recent months after a January slide from their highest in more than seven months and a May rebound from a slump below $8,000 a metric ton. Analysts forecast a copper surplus this year of 111,000 metric tons, with oversupply rising to 188,000 tons next year. Analysts expect a market deficit this year of 191,750 metric tons, dropping to 66,000 tons in 2024. Analysts expect LME cash nickel prices to average $20,000 a metric ton in the fourth quarter, down 11% from the previous poll. They expect the global nickel market to show a surplus of 199,000 metric tons this year and 150,000 tons in 2024.

Persons: Dan Smith, Goran Djukanovic, Nguyen, Eric Onstad, Ananya, David Goodman Organizations: Amalgamated Metal Trading, Study, London Metal Exchange, Reuters, Indonesia, Thomson Locations: BENGALURU, China, YUNNAN, Yunnan, Yunnan province, Indonesia, Commerzbank, London, Bengaluru

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