Europe Energy Prices Keep Soaring as Russia Tightens Supply
- Gas increases for a sixth day as Nord Stream supply plunges
- German benchmark power futures ease from record high
The Liquid Natural Gas terminal in Rotterdam, Netherlands.
Photographer: Koen van Weel/AFP/Getty Images
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European energy extended a scorching rally as Russia tightened its grip on the region’s supply, further threatening the economy and key markets.
Natural gas increased as much as 14%, and prices are more than 10 times higher than the usual level for this time of the year, as supplies through a key pipeline slumped.