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That's likely to keep West African crude exports to Asia low for another month, after volumes fixed for July were the lowest since November as the strong Brent prices discouraged Asia from taking oil from the Atlantic Basin.
One of the strongest factors for overall hurricane activity in the Atlantic Basin is a weather cycle called the Atlantic Multi-decadal Oscillation (AMO).
Brazil, which began importing LNG in 2008, has become a magnet for Atlantic Basin supply and taken record volumes since August -- about five cargoes a month -- a trend which could continue into November.
The Paris MoU consists of 27 participating maritime administrations and covers the waters of the European coastal states and the North Atlantic basin from North America to Europe.
Scientists have recorded warm ocean temperatures and weak winds in May, which are similar to those of May 2005-the most active and destructive Atlantic basin hurricane season in history.
Key Atlantic Basin products are now in backwardationFor all the hype about the WTI crude oil market potentially moving into backwardation later in the year, European ICE gasoil and NYMEX RBOB gasoline markets in the Atlantic Basin have quietly started to price in a premium for immediate delivery.
We foresee a somewhat above-average Atlantic basin hurricane season" Colorado State University forecaster William Gray said in a statement.
In the second quarter, demand for oil remained robust, still pulled by Asia and the Middle East, despite signs of a slowing in the Atlantic basin," said Total's managing director Christophe de Margerie.
We expect current La Nina conditions to continue to weaken by the start of the 2008 Atlantic basin hurricane season.
New York City Economic Development Corporation (EDC) issued a Request for Expressions of Interest (RFEI) for the development and operation of the Atlantic Basin, a 17-acre, centrally-located, protected body of water in New York Harbor formed by Piers 10, 11 and 12 on the Red Hook waterfront.
Last year's record year of Atlantic Basin hurricanes punished many businesses in Miami.

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