After some volatility seen earlier in the week the market has stabilised ignoring a mix of geopolitical risks. In other news the EU is considering accelerating its phase-out of Russian oil and gas, under pressure from the US to act faster. As we approach October, winter weather risk is set to dominate. If conditions turn colder, sentiment could shift fast, with gas once again the driver of power prices across the continent. For now, markets are looking calm, finely balanced however any further supply constraints, geopolitical risk, weather uncertainty and the potential for ongoing sanctions will provide direction as we head into winter.