InCommodities Expands Into U.S. Gas After Profit Slumps 96%
Updated
Updated · OilPrice.com · Jun 15
InCommodities Expands Into U.S. Gas After Profit Slumps 96%
3 articles · Updated · OilPrice.com · Jun 15
Summary
€2.95 million in fiscal 2025 pre-tax profit, down from €72.5 million, pushed Goldman Sachs-backed InCommodities to expand into U.S. physical natural gas markets and name former Gunvor executive Rich Brockmeyer head of North America.
Fading volatility in European power and gas markets sharply reduced trading opportunities and margins, reversing the windfall conditions that had lifted traders during the Russia-Ukraine energy crisis.
Austin, Texas — where InCommodities has traded power since 2020 — will anchor the push into a larger North American gas business spanning transportation, storage and supply as U.S. LNG exports deepen links to Europe and Asia.
The company is also broadening renewable energy services in Europe and has entered Japan power futures, reflecting a wider hunt by European energy traders for steadier growth beyond crisis-driven volatility.