From Kemp 9/3:
U.S. GASOLINE consumption declined significantly in June compared with the same month a year earlier. The volume of gasoline supplied to the domestic market averaged 9.1 million barrels per day (b/d) down from 9.4 million b/d in June 2023.
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SEA SURFACE temperatures in the central-eastern Pacific (Niño region 3.4) are close to the long-term average. The exceptional warmth associated with a strong El Niño during winter 2023/24 has faded. Sea surface temperatures were close to normal in August. But surface temperatures are expected to cool further and La Niña conditions are predicted to form sometime between September and November and prevail through the winter of 2024/25, according to U.S. government forecasters. The result is likely to be a slightly colder than normal winter across the northern tier of U.S. states, a significant shift from last’s year’s record warmth.