This month, Senior Portfolio Manager Rob Thummel breaks down the latest energy market shifts:

• Performance: Natural gas prices surged 30%, driving sector gains despite broader market declines.
• AI’s Energy Impact: Big Tech’s projected $300B in 2025 capex, with utilities forecasting long-term growth.
• Capex Trends: Big Oil majors plan over $100B in 2025 capital spending.
• LNG Boom: U.S. LNG exports expected to nearly double, securing America’s dominance in global energy markets.
• Quick Hits: Energy Transfer’s AI data center natural gas deal, Dominion Energy’s 88% surge in contracted data center capacity, and small modular nuclear reactors traction.

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