First named Atlantic storm of 2021 set to disperse over North Atlantic

23 May 2021

London, (Quantum Commodity Intelligence) - The first named storm of the 2021 Atlantic hurricane season, Tropical Storm Ana, has quickly dissolved over the North Atlantic Sunday without posing any threat to land or shipping, but provided a timely reminder for energy traders that hurricane season is fast approaching.

Ana has pushed out several hundred miles (km) northeast of Bermuda Sunday and is set to dissipate over the North Atlantic over the next few hours, said weather watchers.

‘Ana is barely holding on as a tropical cyclone this morning, as the
core of the system has become devoid of organized deep convection,’ said the US National Hurricane Centre in an advisory Sunday.

Meanwhile, the weather system over the western Gulf of Mexico late last week failed to intensify enough to be upgraded to a named storm, disintegrating without incident.

The system had been referenced Friday by some media outlets as supporting factor for oil prices, but as reported by Quantum it was highly unlikely to have any impact on oil.

While the hurricane season officially runs from June 1 to November 30, Storm Ana is the seventh consecutive year the first-named storm of the season has occurred in May - as part of a sequence stretching back to 2015 – when the first storm of the season was also named Ana.

Lively 2021 storm season predicted

On Friday the US government agency, NOAA Climate Prediction Center, forecasted another above-normal Atlantic hurricane season in 2021.

Forecasters predict a 60% chance of an above-normal season, a 30% chance of a near-normal season, and a 10% chance of a below-normal season.

However, the report said weather experts do not anticipate the historic level of storm activity seen in 2020. 

The 2020 hurricane season had a devastating impact on the oil and gas sector, with storms like Marco, Laura and Sally ripping through the Gulf of Mexico and making landfall along the US Gulf coast, which hosts much of the US oil and gas infrastructure.

The Atlantic hurricane season is now a familiar fixture in the energy trading calendar, with price volatility impacting global oil and gas markets.