EU to Discuss Gas-Price Caps, Derivatives Halt Amid Crisis
- Gas prices surge, euro drops as Moscow keeps pipeline closed
- Czech government to float new options to curb price spikes
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European ministers will discuss special measures to rein in soaring energy costs, from natural gas price caps to a suspension of power derivatives trading, as the bloc races to respond to the deepening crisis.
Gas prices surged more than 30% Monday after Russia’s decision late Friday by Gazprom PJSC to keep the crucial Nord Stream pipeline shut. The energy crisis is also putting the euro under intense pressure, dropping below 99 US cents to its weakest level since 2002.