The chance of stormier months to come for the northern U.S. may bring some volatility to the natural gas market in the next few weeks, said Cameron Horwitz, an analyst at Canaccord Genuity Inc. in Houston.
In 1995, following one of the most active Atlantic hurricane seasons on record, a La Nina combined with other weather patterns to bring about one of the snowiest winters for New York and New England, according to National Oceanic and Atmospheric Administration records. Heating oil prices rose 14 percent and natural gas jumped 52 percent that year.
The coming winter “may get off to a really fast start, and by that I mean there may be a monster of a storm relatively early this year, if not in late November then in December,” said Joe Bastardi, chief meteorologist at AccuWeather Inc. in State College, Pennsylvania. “I mean a blockbuster near the Eastern Seaboard.”
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Source Link: bloomberg.com
Blizzards, droughts, floods and a surge in hurricanes may be in store as a cooling trend in the Pacific known as La Nina alters weather around the world and threatens to boost prices for heating fuels and crops.