Hot take
Short squeeze!
Hedge funds punish complacency in EU gas market. This is a sign of the times.
Seb Kennedy
Seb is a specialist energy journalist, market analyst, and founder of Energy Flux. Seb produces data-driven analysis of gas price formation, LNG trade dynamics, hedge fund positioning, and the intersection of decarbonisation and geopolitics.
Deep Dives
Venezuela’s Gas: The World’s Most Expensive Bonfire
As the world fixates on oil, Venezuela burns $1.4bn of gas — while sitting on an untouched methane empire that could redraw regional power
Deep Dives
Europe’s grotesque LNG dilemma
2026 OUTLOOK: The Old Continent’s LNG habit could soon be funding two illegal military interventions on its immediate peripheries
Hot take
Venezuela: what happens next?
Chaos looms after audacious decapitation of Maduro regime
The Energy Flux Podcast
Scarcity, abundance and urgency
How natural gas prices dictate the pace of energy transition
Newsletter
LNG glut claims first US scalp
PLUS: Tracking the glut, cheap gas and the energy transition, 2025 in review, Chart Deck + TTF Risk Model update
Chart Deck
Tracking the LNG glut
New LNG physical balance index monitors glut conditions in real-time | Chart Deck — 19 Dec 2025
Chart Deck
US LNG profits go negative
Spread compression intensifies, but TTF is primed to snap back | Chart Deck — 12 Dec 2025
Deep Dives
The great Transatlantic gas crunch
Negative US LNG profits & record-low Henry Hub-TTF correlation signal extreme market dislocation — and looming rebalancing
Chart Deck
Bears tighten grip on TTF
EU gas bear market spells trouble for LNG exporters | Chart Deck — 4 Dec 2025
Chart Deck
Funds short TTF
Speculative capital prices in return of Russian gas to Europe, as global LNG glut deepens | Chart Deck — 27 Nov 2025
Chart Deck
Chart Deck — 21 Nov 2025
New downloadable slide deck in PDF and PPSX formats, for convenient offline viewing