@aeberman12 Transitions: A strong El Niño is often (but not always) followed by La Niña the next year. The system can overshoot neutral conditions into the opposite phase.
-Grok
@aeberman12 "They are pricing the probability, duration, and inventory consequences of tomorrow’s scarcity."
If there is little freak out, they must be pricing in a soft landing to the war re oil prices? Thanks, Art.