Three key takeaways from our Houston Energy Trading Conference

From Permian-associated gas supply to hyperscaler power demand, the variables driving North American energy prices are shifting faster than traditional trading frameworks were built to handle. So, what do energy traders need to know to position for Q4 2026 and beyond? 

At Wood Mackenzie’s Energy Trading Conference 2026, held in Houston on 15 October, our analysts were joined by industry-leading experts to discuss the structural shifts reshaping the US gas, oil and power complex. Fill out the form to download a complimentary insight summarising the key themes explored at the event, or read on for three quick takeaways. 

 1. Crude oil prices are writing the US natural gas supply curve 

Our US Lower 48 oil production forecast has moved higher since the beginning of the year, driven by Iran conflict-related oil price gains and the resulting wave of rig additions — mainly by private companies. Higher oil production is resulting in increased supplies of associated gas, driving overall gas production forecasts higher at the expense of Henry Hub prices.  

How much US Lower 48 gas production growth do we expect by the end of 2027? Find out by downloading the insight. 

2. Behind-the-meter generation is redrawing gas-power connectivity 

Data centre power strategy is changing the relationship between gas and power. The AI race means that behind-the-meter (BTM) generation is increasing popular — new project announcements keep coming and projects continue to progress through development.   

Where are most BTM projects being sited and why? Download the insight to find out. 

3. Cross-commodity oil-gas-power risk is increasingly important for gas trading 

Geopolitical risk has caused huge swings in Henry Hub pricing in 2026 as algorithms and traders try to understand the implications of the Iran War for natural gas markets. This along with along with growing gas & power volatility are just two examples of how the increasing interconnectivity between oil, gas and power markets can affect gas trading. 

Every trader, regardless of their commodity, needs to be increasingly aware of a range of other indirect factors that can impact their   markets.  You can learn more in the insight. 

Now fill out the form to download your complimentary copy of the insight and access deeper analysis of these themes.