European Energy Soars as Pressure Mounts on Leaders to Ease Pain
- Power prices at fresh records as natural gas rally continues
- Russian gas curbs, outages elsewhere heighten risks for winter
Lit stores at Les Halles shopping mall at night in Paris.
Photographer: Benjamin Girette/BloombergThis article is for subscribers only.
European energy extended its blistering rally as the worst supply crunch in decades heightens pressure on politicians to do more to rescue industries and households.
German and French power soared to fresh records on further nuclear reactor outages, as benchmark natural gas futures jumped as much as 11%. The fuel is near the level last seen in the early weeks of Russia’s invasion of Ukraine, when prices had hit unprecedented intraday highs.