European Natural Gas Flows From Russia Ramp Up as U.S. Sanctions Skip Energy
- Benchmark futures slide as much as 33% after Thursday’s surge
- U.S. defends decision not to sanction Russia’s energy sector
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European natural gas prices halted a record-breaking rally after Russia boosted flows to the continent and U.S. sanctions targeting Moscow excluded the energy sector.
Benchmark futures fell as much as 33%, after four consecutive days of gains. On Thursday, prices jumped 51%, the most since at least 2005, amid uncertainty over how Russia’s invasion of Ukraine would impact shipments.