Europe's gas and energy trading industries have urged the European Union not to cap gas prices, as Brussels seeks ways to protect consumers and businesses from energy price spikes. The European Commission is preparing a package of measures,

Europe’s biggest energy producers and traders warned the European Commission against introducing a gas price cap as a tool during times of crisis, after some officials raised the idea in recent months.

BRUSSELS — The European Union is not planning to include a gas price cap in its upcoming strategy to slash energy prices, a European Commission official said, pushing back on chatter that the EU executive was eyeing the measure.