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MNI BRIEF: Belgian PM Says EU Should Intervene In Gas Market

The current high market price of gas does not reflect fundamentals and the EU should intervene to lower them, Belgian Prime Minister Alexander De Croo said Friday. “We’re in a situation of war and we should be able to take extraordinary measures,” De Croo said. The PM also said he backed Commission proposals for joint purchases of gas.

While the Commission proposals for joint purchases and minimum storage levels of gas have won wide support among EU leaders, proposals to intervene to cap prices have proven more divisive.

Earlier Friday, data showed Spanish factory gate inflation running at 40% year-on-year, driven largely by rising energy costs.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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