Posted 2/12/2024, 4:13:54 PM
El Niño's Return Threatens Natural Gas, Boosts Cocoa Markets
- El Niño has strengthened again, preventing sustained cold weather in key natural gas regions
- Cocoa prices have seen a historic bull market due to disease issues and dry Harmattan winds hurting crops
- Natural gas prices have declined due to the warm winter weather pattern
- El Niño may not weaken as quickly as some expect, keeping things warm
- Cocoa futures and options have been a very profitable trade, natural gas is oversold for a bounce but longer-term outlook remains bearish