European Gas Lurches With Market Focused on Russia Supply
- EU seeks to reduce Russian gas imports by two-thirds this year
- Benchmark prices fluctuate as volatility shows no relief
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European natural gas prices swung wildly on Tuesday amid a flurry of events that call into question the future of Russian supplies as governments seek to isolate Moscow for its invasion of Ukraine.
Benchmark Dutch futures settled 5.6% lower at 214.55 euros per megawatt-hours. Earlier in the day, they soared 32% before plunging as much as 19%.