Commodities
El Nino Odds Rise to 69% as Natural Gas Prices Prepare for Winter Weakness
The National Weather Service (NWS) has announced that the chances of an extremely strong El Niño event have increased to 69%. This development is expected to negatively impact natural gas prices ahead of winter.
The NWS made this announcement on Thursday, stating that the equatorial Pacific Ocean is warming, a key indicator of an El Niño event. As a result, winter natural gas prices are likely to weaken due to reduced demand.