- Scientists say a volcano in Bali has the potential to seriously affect natural gas prices if it blows, as research shows tropical eruptions typically bring on mild winters in the U.S.
- An eruption of Mount Agung, which has been rumbling since September and on Monday sent ash soaring 4.7 miles above sea level, could cool the earth for years, which traders say could usher in freezing temperatures across the U.S. and higher gas prices.
- But research shows Northern Hemisphere winters tend to be warmer than usual following large tropical eruptions; an eruption also could trigger a Pacific Ocean El Nino by cooling tropical Africa, which could set the stage for milder conditions across much of the U.S.
- “If Agung does put a large enough mass of sulfur dioxide into the stratosphere, the global average temperature would be reduced for several years,” says Michael Mills of the National Center for Atmospheric Research, but "the regional and seasonal climate impacts would be more complex."
- ETFs: UNG, UGAZ, DGAZ, BOIL, GAZ, KOLD, UNL, DCNG, GAZB
- Now read: Weekly Natural Gas Storage Report - Bearish December Start To Be Expected
Original article