Sr Trader II, Natural Gas

Phillips 66 Company; Houston (TX); On-site; USD 245,000 - 299,000; Full time

Benefits offered by this job

VCIP bonus

401k match (8%)

Health, Dental, Vision benefits

Well-being programs

Job summary

Phillips 66 in Houston seeks a Sr Trader II, Natural Gas to lead sophisticated physical and financial gas trading activities and shape commercial strategy across North American markets. You will independently manage complex gas positions, develop market views, and mentor team members while collaborating with risk, accounting, IT and origination to optimize value within policy constraints.

Requires 10+ years of trading experience and strong VaR expertise.

Qualifications

• 10+ years of direct Trading experience required.
• Extensive working knowledge of market fundamentals, risk controls, and operations.
• Demonstrated ability to manage risk and deploy VaR methodologies.

Responsibilities

• Lead the purchase, sale, exchange, and risk management of physical and financial natural gas within established limits and strategic priorities.
• Analyze short- and long-term natural gas market dynamics to shape trading strategy and maximize value capture.
• Generate forward curves, price forecasts, and market views; communicate clear recommendations to support portfolio strategy.
• Build and maintain relationships with producers, processors, pipelines, storage operators, utilities, marketers, brokers, traders, and market participants.
• Evaluate daily P&L and risk positions, assess exposure, and ensure compliance with trading policies.

Skills

Trading experience

Risk management

VAR

Leadership

Market analysis

Education

Bachelor’s degree or higher

Job description

Select how often (in days) to receive an alert:

At Phillips 66, we care about the whole person. That means providing access to quality programs, resources and care that support you and your family. We believe well-being — physical, emotional, social and financial — plays an important role in helping our people thrive. When our employees are supported at every stage of life, they’re empowered to do their best work and make a meaningful impact, both personally and professionally.

Phillips 66 & YOU - Together we can fuel the future

As a Sr Trader II, Natural Gas, you’ll serve as a senior individual contributor and subject matter expert with significant responsibility for shaping commercial outcomes across North American natural gas markets and advancing our natural gas trading strategy. This role calls for deep natural gas market expertise, strong commercial judgment, and the ability to lead through influence in highly complex and competitive environments. You’ll be expected to independently manage sophisticated physical and financial natural gas commercial situations, help set direction through market insight and strategic perspective, and serve as a respected leader among peers, business partners, and market participants. This position is ideal for someone who combines strong trading capability with a collaborative leadership style, a disciplined risk mindset, and a proven ability to create value across changing natural gas market conditions.

What You’ll Do

• Lead the purchase, sale, exchange, and risk management of physical and financial natural gas, including gas produced from Phillips 66 natural gas processing plants and products such as fixed-price and spread trades, basis trades, physical and financial index trades, and options, within established limits and strategic priorities.
• Analyze short- and long-term natural gas market dynamics, including production, processing, demand, weather, pipeline and transportation capacity, storage, regional flows, basis differentials, index relationships, and pricing structures, to shape trading strategy, inform decision-making, and maximize value capture.
• Generate forward curves, price forecasts, and market views; evaluate market fundamentals and trade ideas; and communicate clear recommendations that support portfolio strategy and commercial decisions.
• Build and maintain strong relationships with producers, processors, pipelines, storage operators, utilities, industrial consumers, marketers, brokers, traders, and other market participants.
• Evaluate daily P&L and risk positions, assess physical and financial exposure across natural gas markets and products, and apply expert economic reasoning to guide decisions, protect value, and maintain compliance with trading policies.
• Communicate and coordinate with origination to expand the Phillips 66 natural gas physical business, identify commercial opportunities, and develop solutions that support growth.
• Interpret regulatory requirements, tariffs, contract terms, market rules, and natural gas specifications; lead resolution of complex gas contracts and compliance matters; and ensure commercial activities align with required standards, strategic objectives, and performance expectations.
• Model commercial scenarios and lead asset and portfolio optimization efforts involving transportation, storage, basis exposure, index pricing, optionality, and physical commitments, providing high-value insights that help the organization respond decisively to changing natural gas market conditions.
• Collaborate across Risk, Accounting, IT, Finance, scheduling, operations, origination, and other internal teams to ensure trade activity is accurately captured and reported, solve complex commercial and logistical challenges, and align stakeholders around value-driven natural gas solutions.
• Maintain deep subject-matter expertise on natural gas fundamentals, regional market-area dynamics, pipeline and storage infrastructure, forward curves, financial basis, options, and industry trends; recommend improvements that strengthen commercial performance, organizational decision-making, and market responsiveness.
• Provide market point of view and clear explanation of positions, exposures, and strategic recommendations to Commercial leadership and other members of Senior Management.
• Act as a senior individual contributor and informal leader by sharing knowledge, mentoring others, and elevating natural gas commercial thinking and execution across the team.
• Represent the organization with credibility in the natural gas market and help strengthen external partnerships through consistent, high-quality commercial engagement.
• Travel as needed, including occasional overnight trips, to maintain market presence and support external relationships.

What You’ll Bring – Required

• Legally authorized to work in the job posting country
• Bachelor’s degree or higher
• Extensive working knowledge of market fundamentals, risk controls, and operations
• 10 or more years of direct Trading experience
• Strong history of managing risk and deploying VAR

What Makes You Stand Out – Preferred

• 15 or more years of energy supply, trading, origination, or commercial experience
• Prior natural gas, power, refined products, or energy-marketing experience, preferably involving the West Texas and Gulf markets. Deep understanding of both intrastate and interstate pipeline systems
• Demonstrated experience designing, implementing, and deploying Value-at-Risk (VaR) methodologies and tools to quantify and manage market risk across physical and financial trading portfolios
• Significant experience leading complex commercial negotiations and executing physical and financial natural gas transactions with meaningful business impact
• Strong understanding of natural gas market fundamentals, market-area dynamics, pipeline and storage infrastructure, and regional basis relationships
• Ability to identify natural gas market trends early and take thoughtful, calculated risks based on market conditions
• Working knowledge of financial basis and options modeling, forward curves, and natural gas pricing structures
• Strong interpersonal skills and the confidence to gather market intelligence, influence stakeholders, and build durable industry connections
• Demonstrated ability to provide experienced leadership, mentorship, and strategic commercial perspective as a senior individual contributor

Compensation Range

This position has a base salary range of $244,800 – $299,200. This role is eligible to participate in the company’s commercial bonus program, offering the opportunity to earn additional compensation based on business and individual performance, in accordance with program guidelines.

At Phillips 66, we are committed to pay transparency and competitive, equitable compensation. Each role is assigned a salary grade with a defined pay range, benchmarked against industry peers. Where a candidate offer falls within the posted range depends on the candidate's experience, skills, and alignment with the role’s requirements. Offers are made to ensure internal equity and market competitiveness. Our compensation programs are designed to reward performance and support career growth.

TheCommercial organization works to effectively leverage assets and market knowledge to create additional value within the risk parameters of the Company. We do this by maximizing general interest profitability, enhancing return on capital employed by successfully partnering with the Refining, Transportation and Marketing functions to ensure Value Chain Integration. Our truck and rail fleets support our feedstock and distribution operations. Rail movements are provided via a fleet of more than 10,000 owned and leased rail cars. Truck movements are provided through numerous third-party trucking companies, as well as through our 100 percent-owned subsidiary, Sentinel Transportation LLC.

Total Rewards

At Phillips 66, providing access to high quality programs and care for you and your family is important to us. Maintaining a culture of well-being — physical, emotional, social, and financial — is essential for a high-performing organization. When we are at our best, we are poised to deliver exceptional results — personally and professionally. Benefits for certain eligible, full-time employees include:

• Annual Variable Cash Incentive Program (VCIP) bonus
• 8% 401k company match
• Medical, Dental, and Vision benefits with an annual company contribution to a Health Savings Account for employees on HDHP
• Total well-being programs and incentives, including Employee Assistance Plan, well-being reimbursement, and backup family care services

Phillips 66 has more than 140 years of experience in providing the energy that enables people to dream bigger and go farther, faster. We are committed to improving lives, and that is our promise to our employees and our communities. We are sustained by the backgrounds and experiences of our diverse teams, which reflect who we are, the environment we create and how we work together. We have been recognized by the Human Rights Campaign, U.S. Department of Labor and the Military Timesfor our continued commitment to inclusive practices and policies in the hiring and retention of those in the LGBTQ+ community and military veterans. Our company is built on values of safety, honor and commitment. We call our cultural mindset Our Energy in Action, which we define through four simple, intuitive behaviors: We work for the greater good, cultivate an environment of trust, seek different perspectives and pursueexcellence.

Learn more about Phillips 66 and how we are working to meet the world's energy needs today and tomorrow, by visiting phillips66.com.

In order to be considered for this position you must complete the entire application process, which includes answering all prescreening questions and providing your e