But a strong El Niño tends to produce a significant and observable impact on weather patterns, lowering gas consumption and prices.
On four of those six occasions, strong El Niño conditions prevailed the following winter (1957/58, 1987/88, 1997/98 and 2015/16).
But a strong El Niño would make warmer-than-average temperatures more likely depressing energy consumption and prices.
The rapid development of a strong El Niño helps explain why U.S. gas prices remain low in real terms despite the recent depletion of working gas inventories.
Traders have started to anticipate a strong El Niño will reduce gas consumption for heating and power generation this winter.
Persons:
Nick Oxford, Niño, El, John Kemp, David Evans
Organizations:
Oasis Petroleum, Wink , Texas U.S, REUTERS, El Nino, El, Traders, Thomson, Reuters
Locations:
Wink , Texas, United States, U.S, Washington, Illinois, Maine, Niño's, El