European wholesale gas price falls on hopes for Biden-Putin talks over Ukraine

The price of gas and oil have risen in recent months driven by shortages as well as the crisis over Ukraine.

The price of gas and oil have risen in recent months driven by shortages as well as the crisis over Ukraine.

European wholesale gas prices fell sharply and global oil slipped after US President Joe Biden agreed to a proposal for a diplomatic summit with his Russian counterpart Vladimir Putin.

The White House has accepted the French proposal for the talks on the condition that Russia doesn’t invade Ukraine, US officials said last night. There was no immediate confirmation from the Kremlin. Moscow continues to deny it plans to invade Ukraine.