The Zhitong Finance App learned that the law firm Haynes and Boone LLP expects US gas prices to reach the $3 mark as early as next year due to data centers that consume huge amounts of electricity driving demand for fuel for power plants.

Haynes and Boone's survey of private equity firms, energy producers, and oil field service companies showed that unusually mild winters and sufficient supply in North America have caused US gas futures to fall to levels close to 28-year lows in recent months.

The survey found that falling prices due to oversupply also prompted some companies to reduce hedging. The last time gas prices were higher than $3/million British thermal units was in mid-January.

Haynes and Boone Energy Business Partner Kim Mai said: “We are seeing a weakening of producers' hedging, which may be an acknowledgement that gas prices are at a rock bottom.” “This shows that they are flexible and can adjust their strategies as the market changes.”

The survey found that most respondents are optimistic about oil prices, and a quarter of respondents expect bankers' willingness to provide loans to crude oil focused drilling companies will rise sharply.

Haynes and Boone partner Kraig Grahmann said: “There are new positive factors in the oil market, and the borrowing base of some producers may increase.” But the slump in the gas market is “offsetting the boom in oil.”

According to information, driven by the AI boom, US power supply stocks have recently been highly sought after in the market, and stocks such as Vistra Energy (VST.US) and NRG Energy (NRG.US) have risen sharply. Artificial intelligence is expected to drive a 160% increase in data center power demand by the end of this decade, according to a research report released by Goldman Sachs earlier this week.