European Gas Prices Touch New Highs as Russia Supply Fears Grow

European Gas Prices Touch New Highs as Russia Supply Fears Grow
A gas burner is pictured on a cooker in a private home in Bordeaux, in soutwestern France, on Dec. 13, 2012. Regis Duvignau/Reuters
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LONDON—European and British gas prices soared on Wednesday, with a benchmark Dutch gas price hitting a record high as countries said EU sanctions against Russia could target gas shipments, while some cargos of Russian liquefied gas changed course.

Britain on Monday ordered Russian-associated vessels be blocked from its ports while officials from some European Union countries have said the 27-country bloc is considering a ban on Russian ships.