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Europe Gas Jumps as Winter Risks Counter Efforts to Ease Crisis

  • Benchmark gas futures rebound after three days of losses
  • Germany, other nations earmark billions in bid to ease crisis
Bloomberg business news
WATCH: Germany has earmarked billions of euros to purchase natural gas. Vanessa Dezem reports.Source: Bloomberg
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European natural gas prices rebounded after three days of declines, with traders weighing whether the continent’s intensified efforts to ease a winter supply crisis will be sufficient to avoid shortages.

Benchmark futures settled 6.6% higher, reversing earlier losses that saw prices fall to the lowest level since late July. Governments across the region are deploying billions of euros in funding to ensure there is enough supply, with European economic powerhouse Germany moving closer to nationalizing gas giant Uniper SE in a historic bailout