EU Gas, Power Tumble After Russian Signals to Add More Fuel
- Putin directs Gazprom to focus on filling its EU storage sites
- Higher gas flows from Norway also adding pressure on prices
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European natural gas and power prices dropped after more signals from President Vladimir Putin that Russia will send extra gas to the continent next month.
The Russian leader ordered Gazprom PJSC late Wednesday to focus on filling its European storage sites from Nov. 8, a day after it completes the process in Russia. He said the move should ease supply tightness in Europe, where high prices are squeezing industry and fueling inflation.