Natural Gas Prices Take Wild Ride After Putin Comments

Russian President Vladimir Putin said Moscow was ready to work on stabilizing the global energy market, causing a sudden reversal in natural gas prices, which had earlier soared to their highest level on record.

The Russian leader appeared to be flexing his geopolitical muscles by signaling that he could help tamp down a growing crisis in Europe caused by a shortage of natural gas, a key energy source for producing electricity and heating homes. High prices in Europe have spilled over to the U.S. as well, with natural gas trading at its highest in over a decade.

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