Natural gas prices have surged in recent months. Acute supply concerns in Europe have predominantly driven the surge, which has been exacerbated by severe heat waves that have increased demand for power and reduced traditional power generation capacity.

What comes to mind when you hear someone mention energy investments? Most likely and especially in this state, thoughts turn to oil and gas. Investments might include stock in companies like ExxonMobil or Valero, maybe an allocation to an MLP strategy, or even a private equity investment in oil production from Texas’ Permian basin. No matter the flavor, most people think oil when they think of energy, and rightfully so as oil and natural gas make up almost 70% of U.S. energy supply.