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European Gas Falls as Bloc Seeks Action to Ease Energy Crisis

  • EU energy ministers push for urgent market intervention
  • Benchmark futures are about eight times above normal levels
Bloomberg business news
WATCH: EU energy ministers are looking at steps to prevent Russia’s gas supply cutoff from unleashing rationing, blackouts or even social unrest. Maria Tadeo reports.Source: Bloomberg
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Natural gas prices dropped, with the European Union pushing for intervention in energy markets to prevent an unprecedented crisis from engulfing the broader economy.

Benchmark futures settled 6.1% lower on Friday for second straight weekly decline. Still, prices remain about eight times higher than normal for the time of year.