Outside of the agriculture industry, El Nino is expected to cost billions of dollars. CNBC reports the impacts of the weather event are likely to reach the energy sector as well. The El Nino of 1997 to 1998 caused an economic impact of $30-$45 billion and it's likely to be higher this time round as economies have grown since then. The El Nino weather pattern, which is expected to strengthen further through the end of the year, is on track to be one of the three strongest such patterns in almost 70 years. While El Nino may give a boost to commodities like grains and livestock, it will be negative for natural gas prices as the weather phenomenon will give rise to a slightly milder than normal December in the world's largest natural gas consumer, being the United States.
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