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(Bloomberg) — Six One Commodities LLC has more than tripled its physical US natural gas trading activity, catapulting the firm above heavyweight commodity houses Trafigura Trading, Freepoint Commodities and Hartree Partners.
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The rapid increase by a merchant business founded in 2018 comes as increasing market volatility provides an edge to traders that can ship and store the fuel, pulling newer entrants into a race for a bigger piece of the real-world gas market.
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Six One bought and sold 4.6 billion cubic feet of US gas per day in 2025, an almost 250% increase from a year earlier and its largest-ever annual volume, according to regulatory filings.
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That ranked the energy merchant ahead of Trafigura’s 3.5 billion cubic feet in daily volume last year. Six One also traded more than Freepoint and Hartree, which dealt in 3.2 billion and 2.5 billion, respectively.
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Physical gas trading involves buying, selling, shipping and storing actual molecules of the fuel, unlike purely financial investing that focuses on futures contracts and other derivative instruments.
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US gas trading is back in vogue after a more than a decade in the doldrums when rampant output from North American shale fields glutted markets with excess supplies of the power-plant and furnace fuel. That all changed with the surge in demand sparked by liquefied gas exports, data centers and electric cars, all of which spiked volatility even before the Iran war threw global energy markets into disarray.
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Six One “has significantly grown its US natural gas business as part of a broader strategic expansion of our commodities platform,” President Harrison DeStefano wrote in an emailed response to inquiries.
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The firm with offices across the US, Canada, Europe and Singapore, plans to continue pursuing “meaningful opportunities across physical gas markets,” he added.
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A Trafigura spokesperson said in an email that the company’s “US gas business has experienced substantial growth this year.” Neither Freepoint nor Hartree returned requests for comment.
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