Energy Markets Weekly: Volatility Eases, but Risks Remain

A shift in short-term fundamentals has seen UK energy prices ease this week, with milder temperatures and strong LNG arrivals providing relief. However, concerns persist over long-term supply security, particularly as Germany’s storage policy continues to drive seasonal spreads wider. With forward contracts for Winter-25 and Summer-26 firming, buyers must weigh short-term opportunities against longer-term upside risks.