10/24/2022, 11:46 AM (Source: TeleTrader)
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European gas slumps over 15% as EU considers price cap

The price of European gas futures slumped further on Monday as the bloc's member states weigh in on a gas price cap that is to limit the raging costs of the commodity across the region.

Earlier this morning, European Council President Charles Michel told France Inter Radio he expects energy ministers to make a decision on the price ceiling within two to three weeks. Michel expressed confidence that the European Commission-proposed measures would go into effect in November.

UK natural gas futures for delivery in November plunged by 15.61% to 173.490 pence per therm at 11:17 am CET.

Baha Breaking News (BBN) / AB