U.S./Iran détente eases sanctions on oil exports (Bloomberg)
China/India agree to de-escalate border tensions (BBC)
China’s attempt to rebalance the economy (Bloomberg)
China’s weak domestic household expenditure (Reuters)
Saudi/U.S./China nuclear reactor negotiations (WSJ)
Texas grid appeals for electricity conservation (ERCOT)
U.S. heatwave stretches electricity supplies (Reuters)
Florida’s generation increasing dominated by gas (EIA)
China accelerates semiconductor-making equipment (FT)
U.S. sanctions encourage non-dollar payment systems (FT)
U.S. GAS INVENTORIES are rising more slowly than normal for the time of year as the persistent heatwave across the central United States and low gas prices create strong demand from gas-fired generators. Inventories were just +156 billion cubic feet (+5% or +0.50 standard deviations) above the prior ten-year seasonal average on August 18 down from a surplus of +299 billion cubic feet (+12% or +0.81 standard deviations) on June 30:
TEXAS temperatures were above the long-term average on 69 of 71 days between June 14 and August 23. The state experienced a total of 1546 cooling degree days compared with a long-term seasonal average of 1268 (+19%). Coming on top of strong population and economic growth, the persistent heatwave is creating record electricity demand, straining the state’s isolated power grid, and forcing repeated appeals for conservation:
JKempEnergy.com 