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☆ Scientists said the ozone hole was recovering. That good news was premature, one study claims
▼ + stars: | 2023-11-21 | by ( Angela Dewan | ) edition.cnn.com time to read: +4 min

But in a new study published Tuesday, some scientists claim it may not be recovering at all, and that the hole may even be expanding. In a paper, published by Nature Communications, they found that ozone levels have reduced by 26% since 2004 at the core of the hole in the Antarctic springtime. They used historical data to compare that behavior and changing ozone levels, and to measure signs of ozone recovery. “Altogether, our findings reveal the recent, large ozone holes may not be caused just by CFCs,” Kessenich said. “Those events have been shown to have strongly decreased the ozone hole size,” he said, “so including those events would probably have nullified any long-term negative trend.”

Persons: ”, Hannah Kessenich, didn’t, ” Kessenich, —, Martin Jucker Organizations: CNN, Nature Communications, University of Otago, University of New, Science Media Center Locations: UN, Montreal, New Zealand, El, Southern, University of New South Wales, Australia

Chartbook: Oil and gas positionsAs in previous weeks, sales in the most recent week were led by crude (-16 million barrels), especially NYMEX and ICE WTI (-11 million), with some extra sales in Brent (-5 million). Funds held a larger position of 171 million barrels in Brent, but that was in only the 28th percentile, still significantly bearish. Funds purchased 9 million barrels over the seven days ending on Nov. 14 and had purchased a total of 25 million barrels since Oct. 17. The net position had doubled to 51 million barrels (46th percentile) on Nov. 14 up from 26 million barrels (19th percentile) four weeks earlier. Related columns:- U.S. gasoline stocks add to crude oil turbulence (November 17, 2023)- U.S. oil prices slide as stocks accumulate at Cushing (November 16, 2023)- Oil traders turn bearish, daring OPEC⁺ to cut again (November 14, 2023)- Oil prices slump as fundamentals reassert themselves (November 9, 2023)John Kemp is a Reuters market analyst.

Persons: John Kemp, Barbara Lewis Organizations: ICE, Funds, ICE WTI, Fund, Thomson, Reuters Locations: Brent, NYMEX, Saudi Arabia, Russia, bearishness, United States, Cushing

☆ Cocoa prices hover at 45-year highs as lagging harvests kick off 3rd season of shortages
▼ + stars: | 2023-11-20 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Cocoa prices are hovering around 45-year highs as futures trade over $4,000 per metric ton. Similar factors have also dragged down the supply of sugar, driving its price up. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Poor weather and dismal harvests have also weighed on commodities such as sugar, driving its price to a high not seen for over a decade. Poor production in India has led to export curbs on the commodity, in the government's bid to keep domestic sugar prices stable.

Persons: —, it's, El Nino Organizations: Bloomberg, Service Locations: Ivory Coast, Ghana, Ivory, West Africa, Europe, Brazil, India

☆ Taylor Swift fans gather for cooler Rio show after fan’s death
▼ + stars: | 2023-11-19 | by ( ) www.reuters.com time to read: +2 min

A girl poses next to a photo of singer Taylor Swift, before a concert, following the death of a fan due to the heat during the first day concert, in Rio de Janeiro, Brazil, November 18, 2023. REUTERS/Pilar Olivares Acquire Licensing RightsRIO DE JANEIRO, Nov 19 (Reuters) - Taylor Swift fans headed to her eagerly expected show in Rio de Janeiro on Sunday, the first concert since a fan died in sweltering conditions that led to a last-minute postponement of Saturday’s performance. Fans outside the Nilton Santos stadium were apprehensive after the previous night’s postponement but expected the show to go ahead. Saturday’s postponement, which Swift announced just two hours before she was on stage, angered many fans who had already made the journey, some from different states and countries, to the stadium. Reporting by Sergio Queiroz, Writing by Marcela Ayres, Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Persons: Taylor Swift, Pilar Olivares, Nilton Santos, Iasmin Moreira Oliveira, Ana Clara Benevides, T4F, Swift, Victor Guimaraes, Sergio Queiroz, Marcela Ayres, Chris Reese Organizations: REUTERS, DE, Nilton, National Institute of Meteorology, Thomson Locations: Rio de Janeiro, Brazil, DE JANEIRO, Rio

The Pantanal holds thousands of plant and animal species, including 159 mammals, and it abounds with jaguars, according to the World Wildlife Fund. In the dry season, wildlife enthusiasts flock to see the normally furtive jaguars lounging on riverbanks, along with macaws, caimans and capybaras. Political Cartoons View All 1256 ImagesMuch of the Encontro das Aguas (Meeting of the Waters) park, located at the border of Mato Grosso and Mato Grosso do Sul states — known for its large jaguar population — had turned from emerald green to dark brown. “This is so atypical,” said Renata Libonati, who coordinates the Federal University of Rio de Janeiro's alert system for fires in the Pantanal. The neighboring state of Mato Grosso said it had also strengthened its workforce, with about 200 federal and state firefighters on the ground.

Persons: —, they’ll, Leonisio da Silva, ”, Renata Libonati, ” Libonati, Angelo Rabelo, Mato Grosso, Enderson Barreto, “, ” Barreto, Barreto Organizations: — Firefighters, Facebook, Federal University of Rio, Brazil’s National Institute for Space Research, World Wildlife Fund, Mato Grosso, Associated Press, ” Jaguars, Firefighters, El, Environment, Federal Highway Police, Waters, ” Locations: POCONE, BRAZIL, Brazil's, Federal University of Rio de Janeiro, Waters, Mato Grosso, Mato, Sul, Brazil, Porto Jofre

☆ Taylor Swift Fans Gather for Cooler Rio Show After Fan’s Death
▼ + stars: | 2023-11-19 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

RIO DE JANEIRO (Reuters) - Taylor Swift fans headed to her eagerly expected show in Rio de Janeiro on Sunday, the first concert since a fan died in sweltering conditions that led to a last-minute postponement of Saturday’s performance. Fans outside the Nilton Santos stadium were apprehensive after the previous night’s postponement but expected the show to go ahead. "There was the cancellation yesterday, I was a bit apprehensive about today, but I hope everything goes well. On the first night of Swift’s "The Eras Tour" in Rio on Friday, 23-year-old Ana Clara Benevides fell ill and later died in the hospital. Saturday’s postponement, which Swift announced just two hours before she was on stage, angered many fans who had already made the journey, some from different states and countries, to the stadium.

Persons: Taylor Swift, Nilton Santos, Iasmin Moreira Oliveira, Ana Clara Benevides, T4F, Swift, Victor Guimaraes, Sergio Queiroz, Marcela Ayres, Chris Reese Organizations: RIO DE, Reuters, Nilton, National Institute of Meteorology Locations: RIO DE JANEIRO, Rio de Janeiro, Rio, Brazil

☆ 'We're releasing life': Heat wave speeds turtle hatching in Peru
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

SAN JOSE DE LUPUNA, Peru, Nov 15 (Reuters) - In the Peruvian Amazon, an extended heat wave and drought have shortened the incubation period for thousands of turtle hatchlings released into the river by biologists as part of a local environmental program. Around 3,200 yellow-spotted Amazon river turtles, known locally as taricayas, were freed as part of a plan to repopulate the species, which is threatened by hunting. [1/3]River turtles sit in a plastic basin before being released into a river in the Peruvian Amazon, in San Jose de Lupuna, Peru, November 14, 2023. But over the past two decades, more than 19,700 square kilometers (7,600 square miles) of the Peruvian Amazon have been destroyed, according to government data. This year we're releasing 3,200 taricayas, bringing us up to 23,000 released (as part of the program)," Pipa said.

Persons: We've, Zabryna Pipa, San Jose de Lupuna, Alfredo Galarza, El, Pipa, Marco Aquino, Kylie Madry, Sandra Maler Organizations: JOSE, LUPUNA, Amarumayu, REUTERS, Thomson Locations: Peru, Peruvian, Brazil, San Jose

☆ Fires in Brazil's Pantanal wetland surge to November record on lack of rain
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

[1/2] An aerial view shows burnt trees near a river in The Pantanal, the world's largest wetland, in Pocone, Mato Grosso state, Brazil, August 28, 2020. The 2,387 fires recorded by Inpe in early November is already more than double October's figure and more than half of the total fires seen this year so far. Fires have more than tripled in the Pantanal compared with 2022, which was mild compared with the two previous years. Weather experts point to the El Nino phenomenon, aggravated by climate change, as being behind the sharp increase in fires. "There was sporadic rainfall at the end of October, but two or three days after it stopped, the fires came back," he added.

Persons: Amanda Perobelli, Inpe, El, Vinicius Silgueiro, Silgueiro, Lisandra Paraguassu, Gerry Doyle Organizations: REUTERS, Rights, Centro de Vida Institute, El Nino, Thomson Locations: Pocone, Mato Grosso, Brazil, Rights BRASILIA, Brazil's Pantanal

RIO DE JANEIRO (AP) — It’s still spring in Brazil, but a dangerous heat wave is sweeping across large swathes of the country, forcing Rio de Janeiro’s vendors off the streets due to health alerts and driving up energy demand amid reports of power outages. Most Brazilian states face “great danger” from the heat, according to the National Institute of Meteorology. Actual temperatures dropped slightly on Wednesday, but were forecast to rise again to 40 degrees Celsius (104 F) on Thursday. In Sao Paulo, temperatures reached 37.7 degrees Celsius (99.9 F), just short of a record, according to meteorology company MetSul. In Brazil, El Niño has historically caused droughts in the north and intense rainfall in the south, Ferreira said.

Persons: — It’s, Cariocas, Núbia Beray, “ Cariocas, ” Beray, Danielle Ferreira, ” Ferreira, El Niño, Ferreira, hydrologist Javier Tomasella, ” Tomasella Organizations: RIO DE, Rio de, National Institute of Meteorology, Mato Grosso, Federal University of Rio, National Institute for Space Research Locations: RIO DE JANEIRO, Brazil, Rio, Rio de Janeiro, Rio’s, Sao Paulo, Mato Grosso, Sul, Portuguese, Mato, Cyprus, Federal University of Rio de Janeiro, South America, Equatorial Pacific, Inmet, El, Rio Grande do Sul, Bahia

☆ Stock market winners and losers are already emerging from the next extreme weather cycle
▼ + stars: | 2023-11-14 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

The market is beginning to price in the effect of the new El Niño weather pattern, Morgan Stanley said. Mentions of "El Niño" in earnings conference calls have also been on the rise. That's because the upcoming El Niño phenomenon has come into clearer focus, allowing Wall Street to predict who the top winners and losers could be. "Extreme weather events are broadening and strengthening," Morgan Stanley analysts led by Javier Martinez de Olcoz wrote in a note issued Tuesday. On the flip side, insurance stocks as well as Brazilian sugar and ethanol producers trading way higher.

Persons: Morgan Stanley, It's, —, Javier Martinez de Olcoz, El Niño, Mor, Niño Organizations: Service, El, El Niño Bloomberg Locations: Panama, El, America, Southern California, United States, Australia

USDA pegged U.S. corn yield at 174.9 bushels per acre, up from 173 last month and above nearly all estimates, which on average predicted a slight increase. It was the most bearish corn yield in a November report since 2017. That could negatively impact Brazil’s second corn production, as was the case after the 2015-16 El Nino, rerouting corn demand to the United States. USDA left Brazil’s 2023-24 soy crop unchanged at 163 million metric tons this month, but it raised the prior crop by 2 million tons to 158 million, suggesting exports are outperforming prior crop expectations. However, USDA has flashed 2.85 million tons (105 million bushels) of U.S. soybean sales so far this week, mostly to China and unknown destinations.

Persons: Dane Rhys, El, Karen Braun, Matthew Lewis Organizations: REUTERS, Rights, U.S . Department, USDA, El Nino, Reuters, Thomson Locations: Deerfield , Ohio, U.S, Rights NAPERVILLE , Illinois, Brazil, United States, China

☆ Once-in-a-century flooding swamps Somalia after historic drought -UN
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +1 min

MOGADISHU, Nov 10 (Reuters) - The United Nations has described floods that uprooted hundreds of thousands of people in Somalia and neighbouring countries in East Africa following a historic drought as a once-in-a-century event. Large-scale displacement, increased humanitarian needs and further destruction of property remain likely, OCHA said, with some 1.5 million hectares (3.70 million acres)of farmland potentially being destroyed. "Extreme weather linked to the ongoing El Niño risks further driving up humanitarian needs in already-vulnerable communities in Somalia and many other places," said Martin Griffiths, Under-Secretary-General, the UN's Humanitarian Affairs and Emergency Relief Coordinator. "We know what the risks are, and we need to get ahead of these looming crises," he said. Reporting by Abdi Sheikh in Mogadishu and Hereward Holland in Nairobi; Writing by Hereward Holland Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

Persons: El Niño, Camps, OCHA, Martin Griffiths, Abdi Sheikh, Hereward, Hereward Holland, Tomasz Janowski Organizations: United Nations, UN Office, Humanitarian Affairs, UN's Humanitarian Affairs, Emergency, Thomson Locations: MOGADISHU, Somalia, East Africa, Kenya, Mogadishu, Hereward Holland, Nairobi

Scientists say such extreme weather is becoming increasingly common globally because of climate change, which also intensifies the effects of El Nino. Never before has Lake Titicaca dried up like it is now. Experts say many of the factors contributing to the shrinking of Lake Titicaca could be linked to climate change. In global terms we have climate change, and phenomena such as El Nino and La Nina, which cause floods and droughts." Back at Lake Titicaca, Fredy Aruquipa, the person in charge of monitoring the lake's water level, watches it decline daily.

Persons: Alex Flores, Claudia Morales, Manuel Flores, El, Flores, Xavier Lazzaro, Rodney Camargo, La Nina, Fredy Aruquipa, Monica Machicao, Sergio Limachi, Isabel Woodford, Adam Jourdan, Andrea Ricci Organizations: REUTERS, El, Friends, Nature Foundation, El Nino, La, Thomson Locations: Lake Titicaca, Bolivia, South, El Alto, El Nino, Titicaca, United States, Asia

☆ Peru cuts interest rate again as prices ease but recession lingers
▼ + stars: | 2023-11-09 | by ( Marco Aquino | ) www.reuters.com time to read: +2 min

A worker walks pasts the logo of the Central Reserve Bank of Peru (BCRP) inside its headquarters building in Lima, Peru June 16, 2017. The bank's third consecutive cut comes as the rate of rising consumer prices has been coming down. But the latest decision to cut rates does not necessarily imply a cycle of successive rate reductions, the monetary authority said in a statement. It added that future adjustments to the key lending rate "will be conditioned on new information on inflation and its determinants." Earlier on Thursday, Peru's government announced a package of measures aimed at boosting investments in the country's critical mining sector.

Persons: Mariana Bazo, El, Peru's, Alex Contreras, Marco Aquino, David Alire Garcia, Matthew Lewis Organizations: Central Reserve Bank of, REUTERS, Rights, El Nino, Thomson Locations: Central Reserve Bank of Peru, Lima , Peru, Lima

☆ Global warming: Humanity just lived through the hottest 12 months in at least 125,000 years
▼ + stars: | 2023-11-09 | by ( Manav Tanneeru | Laura Paddison | ) edition.cnn.com time to read: +7 min

A temperature display reading 99 degrees Fahrenheit (37.2 degrees Celsius) in Houston, Texas, on June 21, 2023. “October 2023 has seen exceptional temperature anomalies, following on from four months of global temperature records being obliterated,” Samantha Burgess, deputy director of Copernicus, said in a statement. Every month since June has smashed monthly heat records and every month since July has been at least 1.5 degrees Celsius above pre-industrial levels. The year to-date is averaging 1.43 degrees Celsius above pre-industrial levels, according to Copernicus — perilously close to the internationally agreed ambition to limit global warming to 1.5 degrees Celsius. China saw more than 12 monthly temperature records broken on Monday, with temperatures reaching 34 degrees Celsius (93 Fahrenheit) in some places.

Persons: ” David Reay, Niño, ” Andrew Pershing, “, Chen Chen, Samantha Burgess, Copernicus, ” Hannah Cloke, Hurricane Otis, ” Reay, it’s what’s, Friederike Otto, ”, “ El Niño, ” Pershing, ” CNN’s Robert Shackelford, Sara Tonks, Brandon Miller Organizations: CNN, University of Edinburgh, Climate, University of Reading, Hurricane, Southern, Grantham Institute, Imperial College London, UN Locations: Edinburgh, India, United States, South, Southwest, Houston, Iceland, Lesotho, Houston , Texas, Xinhua, Southern Mexico, China, Texas, Dubai, Paris

☆ Recession-hit Peru aims to boost investment with stimulus package
▼ + stars: | 2023-11-09 | by ( Marco Aquino | ) www.reuters.com time to read: +1 min

LIMA, Nov 9 (Reuters) - Peru's government on Thursday announced a package of more than two dozen new measures aimed at boosting investments in the Andean nation, which has been hit by a recession. Economy Minister Alex Contreras said the measures included moves to attract investments to the country's critical mining sector and boosting mining production. 2 copper producer slid into recession this year due to the El Nino weather phenomenon, lower private investment and lingering effects from earlier social conflicts. With the fresh stimulus, Peru's economy will still be able to hold the country's fiscal deficit to its goal of 2.4% of GDP this year, Contreras said. "We're looking to create a jolt of confidence, for the private sector to understand that the government is committed to reactivating the economy," he said.

Persons: Alex Contreras, Contreras, Marco Aquino, Brendan O'Boyle, Kylie Madry, Alexander Smith, Sandra Maler Organizations: El, Thomson Locations: LIMA

☆ Australia records driest October since 2002 due to El Nino
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +2 min

In its regular drought report, the Bureau of Meteorology said last month was Australia's driest October since 2002, with rainfall 65% below the 1961–1990 average. It said every part of Australia except the state of Victoria had below-average rainfall and Western Australia state -- by far the biggest grain-exporting region -- saw its driest October on record. After three years of plentiful rain, the El Nino weather phenomenon has brought hot and dry weather to Australia, with September the driest since records began in 1900. "Areas of (rainfall) deficiency have generally expanded and become more severe in south-west Western Australia, south-eastern Queensland, and parts of the Top End in the Northern Territory and far north Queensland. Its long range forecast predicts below-median rainfall through to at least January in northern, western and southern Australia.

Persons: Jill Gralow, Peter Hobson, Michael Perry Organizations: REUTERS, Meteorology, El, Thomson Locations: Moree, Australia, El Nino, Victoria, Western Australia, Queensland, Northern Territory, Tasmania

☆ 'Like something out of a Hollywood movie': Scientists say 2023 likely to be the hottest year on record
▼ + stars: | 2023-11-08 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

That was 0.85 degrees Celsius above the 1991-2020 average for October and 1.7 degrees Celsius warmer than the preindustrial period of 1850-1900. It leaves 2023 firmly on track to surpass the temperature average for 2016 — currently the warmest year ever recorded. Samantha Burgess, deputy director of C3S, said the exceptional temperature anomalies of October followed a four-month period in which global temperature records were "obliterated." "We can say with near certainty that 2023 will be the warmest year on record, and is currently 1.43ºC above the preindustrial average," Burgess said. Referencing the upcoming 2023 United Nations Climate Change Conference, she added, "The sense of urgency for ambitious climate action going into COP28 has never been higher."

Persons: Sakis MITROLIDIS, SAKIS MITROLIDIS, —, Samantha Burgess, C3S, Burgess, COP28 Organizations: European Union, Getty, Change Locations: Alexandroupoli, Greece, Cyprus, Romanian, AFP, El

☆ What orange juice futures tell us about the state of our world
▼ + stars: | 2023-11-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

Cocoa and orange juice futures have hit multi-decade highs as climate change and harsh weather takes their toll on crops in warmer climates. Here’s the latest in the commodities market:Orange juiceOrange juice futures have soared to their highest levels since the commodity began trading in 1966. The January contract for frozen concentrated orange juice is currently sitting around $3.95, up nearly 94% so far this year. The rally has led to a rise in speculative betting, leading some analysts to call orange juice futures the new GameStop. But “the eventual crash in the price of orange juice will be one for the record books,” he quipped.

Persons: Nicole, it’s, they’re, ”, Dave Reiter, It’s, Brent, David Morrison, stoking, That’s, WeWork, Nathaniel Meyersohn, Ermengarde Jabir, Alicia Wallace, “, Ted Rossman Organizations: CNN Business, Bell, New York CNN, OJ, Sunshine State, Futures, GameStop, Reiter Capital Investments, Cocoa, West Texas Intermediate, “ Traders, Trade Nation . Energy, Wheat, Organisation for Economic Co, Federal Reserve Bank of New, New York Fed Locations: New York, Ukraine, Orange, US, Brazil, Mexico, Florida, Ghana, Ivory Coast, Ivory, Chicago, Southeast Asia, Europe, China, Russia, America, United States

☆ El Nino to last until April 2024, pushing record temperatures
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

Gabriel Flores and Isabel Apaza walk on the dry cracked bed near the shore of Lake Titicaca in drought season in Huarina, Bolivia August 3, 2023. REUTERS/Claudia Morales/File Photo Acquire Licensing RightsCompanies World Meteorological Organization FollowGENEVA, Nov 8 (Reuters) - The ongoing El Nino weather pattern is set to last until at least April 2024, the World Meteorological Organization (WMO) said on Wednesday, pushing up temperatures in a year already on track to be the warmest on record. El Nino is a warming of ocean surface temperatures in the eastern and central Pacific, and it can provoke extreme weather phenomena from wildfires to tropical cyclones and prolonged droughts. The WMO said in the same statement that the 2023 is on track to be the warmest year on record. The previous record year was in 2016 due to the one-two punch of an exceptionally strong, naturally-occurring El Nino and the impact of warming induced by the burning fossil fuels.

Persons: Gabriel Flores, Isabel Apaza, Claudia Morales, Nino, Emma Farge, Josie Kao Organizations: REUTERS, World, GENEVA, World Meteorological Organization, WMO, Nino, Thomson Locations: Lake Titicaca, Huarina, Bolivia, El, U.S, Pacific

Last month smashed through the previous October temperature record, from 2019, by a massive margin, the EU's Copernicus Climate Change Service (C3S) said. The record-breaking October means 2023 is now "virtually certain" to be the warmest year recorded, C3S said in a statement. "When we combine our data with the IPCC, then we can say that this is the warmest year for the last 125,000 years," Burgess said. The only other time before October a month breached the temperature record by such a large margin was in September 2023. Michael Mann, a climate scientist at University of Pennsylvania, said: "Most El Nino years are now record-breakers, because the extra global warmth of El Nino adds to the steady ramp of human-caused warming."

Persons: Akhtar Soomro, Samantha Burgess, Copernicus, C3S, Burgess, Michael Mann, El, El Nino, Piers Forster, Kate Abnett, Jan Harvey Organizations: REUTERS, Rights, Union, El, University of Pennsylvania, El Nino, University of Leeds, Thomson Locations: Jacobabad, Pakistan, Rights BRUSSELS, El Nino, Libya, South America

☆ Peru miners say copper output could climb without impact from protests
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Marco Aquino Acquire Licensing RightsLIMA, Nov 7 (Reuters) - The head of Peru's mining guild on Tuesday said that while copper mining investment might be slow to recover next year, the Andean country could still see growth in production of the metal if large-scale mines are not affected by social protests. Victor Gobitz, president of SNMP - the top mining guild for the world's No. 2 copper-producing country - said 2024 output could hit 2.7-2.8 million metric tons, up from 2.6-2.7 million tons forecast for this year and 2.45 million tons hit in 2022. Mining output was slammed by stoppages early this year during nationwide protests against the government of President Dina Boluarte after the ouster and arrest of her predecessor, Pedro Castillo. Peru's copper output has reached 1.77 million tons through the first eight months of this year, according to official data.

Persons: Marco Aquino, Victor Gobitz, Gobitz, Dina Boluarte, Pedro Castillo, Sarah Morland, David Gregorio Our Organizations: REUTERS, Rights, SNMP, BHP, Mitsubishi, El, Thomson Locations: Tapairihua, Peru's Andes, Teck

“The amount that we’re smashing records by is shocking,” Burgess said. After the cumulative warming of these past several months, it’s virtually guaranteed that 2023 will be the hottest year on record, according to Copernicus. Scientists monitor climate variables to gain an understanding of how our planet is evolving as a result of human-generated greenhouse gas emissions. A warmer planet means more extreme and intense weather events like severe drought or hurricanes that hold more water, said Peter Schlosser, vice president and vice provost of the Global Futures Laboratory at Arizona State University. Historically, the ocean has absorbed as much as 90% of the excess heat from climate change, Burgess said.

Persons: Samantha Burgess, ” Burgess, it’s, Copernicus, Peter Schlosser, " Schlosser, “, Burgess, Schlosser, That’s, ”, Friederike Otto, Seth Borenstein, ___, Melina Walling Organizations: Global Futures Laboratory, Arizona State University, El Nino, Imperial College London, AP Locations: Paris, Washington, ___

☆ US natgas prices drop 7% on record output, mild weather
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +3 min

Front-month gas futures for December delivery on the New York Mercantile Exchange fell 25.1 cents, or 7.1%, to settle at $3.264 per million British thermal units (mmBtu), their lowest close since Oct. 27. One bearish factor that has weighed on the futures market for most of this year has been lower spot or next-day prices at the Henry Hub benchmark in Louisiana. The spot market has traded below front-month futures for 176 out of 212 trading days so far this year, according to data from financial firm LSEG. That premium could encourage some speculators to leave gas in storage for longer in hopes of higher prices later in the winter. With seasonally colder weather coming, LSEG forecast U.S. gas demand in the Lower 48 states, including exports, would jump from 101.5 bcfd this week to 109.2 bcfd next week.

Persons: El, Gelber, LSEG, Scott DiSavino, Bernadette Baum, Josie Kao Organizations: El Nino, Associates, U.S . Energy Information Administration, New York Mercantile Exchange, Henry, Thomson Locations: Louisiana, contango, U.S

☆ The Panama Canal drought crisis is intensifying
▼ + stars: | 2023-11-06 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Panama Canal drought crisis is intensifyingDrought conditions that have plagued the Panama Canal amid the worst El Nino in recent history are expected to result in drastic vessel traffic cuts in the coming months.

Organizations: El Nino Locations: Panama

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