Natural gas trading is seeing a renaissance in the United States with the return of price volatility, while market turmoil in Europe could keep gas demand and exports high for years, according to trading industry executives.
Sharp natural gas price swings that can bring huge profits to traders have resurfaced due to severe weather events and the European Union's search for alternatives to Russian gas imports. Prices at the main U.S. gas trading hub are up 64% this year, touching their highest level since 2008.
Phillips 66 confirmed the job postings but declined further comment on trading. Balyasny and Williams did not respond to requests for comment.Demand for natural gas, liquefied and renewable natural gases and carbon credits are rising as buyers seek to transition to cleaner and renewable fuels, say industry officials.
Energy marketing firm Vennsmith Carbon is staffing a natural gas desk with ex-managers and traders from Castleton Commodities, including Lon Tiemann, a former head of natural gas for Castleton and Magesh Nair, who was its chief operating officer until 2019. Element Markets, which trades carbon credits and other environmental commodities, this year expanded its renewable natural gas trading by merging with Bluesource LLC.
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