Twelve Capital Event Update

icn-dark-hurricane31 July 2023

Hurricane situation

Over the past two weeks, no further named storms have been registered. However, subtropical storm Don developed to the season’s first hurricane from July 14th to July 22nd. Don strengthened whilst moving eastward away from the U.S., and remained a Category 1 storm for a short period of time before quickly deteriorating over cooler waters.

There are currently two further systems in the Atlantic that Twelve Capital is actively monitoring. The first system is located over 700 miles northeast of the Caribbean with favourable conditions for development, with the National Hurricane Center (NHC) stating an 80% probability of development through the next 7 days. This system looks likely to become the next named storm of the season, Emily. However, the storm is forecasted to curve away from mainland U.S. and remain firmly in the Atlantic Ocean. The second storm is located over 200 miles east of the coast of North Carolina and has a 30% probability of development, but again is expected to head out into the Atlantic away from mainland U.S. Given the current forecasts of both storms Twelve Capital does not expect an impact on any of its positions.

Twelve Capital continues to closely monitor relevant potential and actual catastrophe events and will issue specific updates on new major events which occur.