Commodities
NOAA Boosts Odds of Historic El Niño Event to 75%
The National Oceanic and Atmospheric Administration's (NOAA) Climate Prediction Center has raised the probability of a historically strong El Niño event to 75% for this fall. This increased confidence in the climate pattern is expected to influence US weather through winter 2026/27.
According to NOAA, an El Niño event persists through winter, which means that natural gas prices are likely to remain high. The Northeast forwards have retained premiums due to this forecast.