RUSSIAN ENERGY: EUROPE SCRAMBLES TO REDUCE ITS DEPENDENCY

Europe is scrambling to reduce its dependence on Russia for energy and bracing for potential disruption to critical natural gas supplies as Russia’s war in Ukraine sends prices to new highs.

Natural gas prices hit a record Thursday for a second day in a row as restrictions on oil and gas were increasingly treated as a possibility on the eighth day of the war — whether through Western sanctions or Russian retaliation. That could mean even more pain to people’s wallets: Energy prices have been high for months because of low supplies, driving up the cost of everything from utility bills to groceries as businesses pass