Natural Gas Prices Slump After Wild Swings Oil extended losses after Russia offered to ease Europe’s natural gas crisis and traders weighed the prospect of the U.S. releasing crude from its strategic reserves. Futures in New York fell 2.4%, after closing 1.9% lower on Wednesday. Russian President Vladimir Putin said record volumes of natural gas could potentially be exported to Europe this year as the continent faces an energy crunch. Gas prices fell further on Thursday after his remarks , and lower rates could potentially mean less incentive for consumers to shift to oil. Russian Deputy Energy Minister Pavel Sorokin also spoke directly to the oil market on Thursday, saying OPEC+ shouldn’t allow the market to overheat, according to Interfax. The group, which includes Russia, on Monday agreed to continue with its plan to raise supply gradually, ignoring some calls to boost output faster to help calm prices. The […]