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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 Form

Contact

Fletcher J. Sturm

1185 Avenue of the Americas
New York, NY 10036

+1 646-626-4555

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