La Niña Strengthening: Winter Outlook Spells Trouble for Tight Inventories

NOAA projects a 60% probability of above-average heating degree days (HDDs) across northern tier states. The La Niña ENSO index hit −1.2 and is projected to deepen to −1.5 by October — historically correlated with 8-12% above-normal HDDs in the heaviest propane markets.