EXPERTISE
Natural Gas Trading
Electricity Markets
Commodity Derivatives
Energy Trading
Energy Portfolio Management
Energy Risk Management
EDUCATION
Pennsylvania State University
BS Economics
WORK HISTORY
SEDA Experts
Managing Director
2026-Current
Sturm Advisory Services, LLC
Managing Member
2020-Current
Xpansiv Data Systems, Inc.
VP Market Development
2021-2022
Cogent Energy Investment Management, LLC
Managing Partner
2012-2019
Barclays Capital
Executive Director
2011-2012
Diamondback Capital
Portfolio Manager
2008-2010
UBS Investment Bank
Managing Director
2002-2008
Enron
Vice President
1993-2002
Energy Markets Expert Witness
Fletcher J. Sturm is an energy markets specialist with 35 years of experience across North American natural gas and electricity markets. His expertise spans physical and financial energy trading, commodity derivatives, portfolio management, energy risk management, environmental commodities, and energy market development.
Mr. Sturm is best known for leading U.S. natural gas derivatives trading at UBS Investment Bank and for senior trading and management roles across the energy sector.
Throughout his career, he has traded and managed natural gas and electricity portfolios across futures, options, swaps, basis markets, and physical commodities, combining fundamental market analysis with disciplined risk management practices.
At Enron, Mr. Sturm advanced to Vice President, serving as Head Basis Trader before leading Midwest and Southeast wholesale electricity trading operations, including real-time and forward power markets and asset optimization activities. Following the acquisition of Enron’s wholesale trading business, he joined UBS Investment Bank, where he managed the U.S. natural gas derivatives trading desk and acted as a market maker across a broad range of natural gas and power derivative products.
Mr. Sturm later served as Portfolio Manager at Diamondback Capital, managing discretionary natural gas trading strategies and collaborating on cross-market investment opportunities. He subsequently became Managing Partner and co-founder of Cogent Energy Investment Management, a registered Commodity Trading Advisor focused on discretionary, relative value, and directional investment strategies in North American natural gas and power markets. In addition to portfolio management responsibilities, he played a leading role in capital raising, business development, and the firm's overall management.
More recently, Mr. Sturm served as VP Market Development at Xpansiv Data Systems, where he developed products and markets for digital environmental commodity assets linked to natural gas across upstream, midstream, and storage sectors. He also advises market participants through Sturm Advisory Services, providing consulting services related to global natural gas markets and commodity trading.
Mr. Sturm is the author of two editions of Trading Natural Gas: A Non-Technical Guide, a widely recognized industry publication. He holds a Bachelor of Science in Economics from Pennsylvania State University.
Contact
Fletcher J. Sturm
1185 Avenue of the Americas
New York, NY 10036
+1 646-626-4555

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