European Gas Hits 18-Month Low as Ukraine Digests Peace Plan

European natural gas traded at the lowest levels in 18 months as Ukraine and its allies work through a peace plan brokered by the US and Russia that could have far-reaching repercussions for global energy markets.

Kyiv and its biggest European allies rejected key elements of a deal drafted by Washington and Moscow, while the US threatened to halt military support to force acceptance of the plan by next Thursday. Ukrainian President Volodymyr Zelenskiy said his country faces the risk of either losing its key partner or its dignity.