Energy markets have shown mixed movements in recent weeks; influenced by supply-side disruptions, fluctuating renewable output, and stalled peace talks between Russia and Ukraine.

Electricity Market Movements

UK power prices rebounded after a mid-May slump, driven by outages and economic optimism

Strong wind generation pushed short-term prices to multi-year lows before prices climbed again

Forward contracts remain volatile, with geopolitical developments keeping traders alert

Gas Market Movements

Norwegian maintenance and unplanned outages impacted UK gas flows, pushing short-term prices higher

Prices remain sensitive to Asian LNG trends, as higher premiums may be needed for Europe to compete for cargoes.

Lower gas demands supported higher EU storage injections, though we are still significantly behind levels this time last year.

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