Europe energy prices keep soaring as Russia tightens supply

European energy prices extended a scorching rally as Russia tightened its grip on energy supply, further threatening the economy and key markets.

Benchmark natural gas surged as much as 14 per cent, and is more than 10 times higher than the usual levels for this time of the year, as supplies through a key pipeline slump. The price surge is crippling Europe’s industrial output, driving up household bills and pushing inflation to the highest in ...