European energy traders call for 'emergency' assistance due to commodity volatility: report
A trade group representing Europe's largest energy traders asked governments and central banks for emergency assistance, warning of a cash crunch resulting from commodity-market volatility following Russia's invasion of Ukraine, the Financial Times reported Tuesday. In a letter, the European Federation of Energy Traders, whose members include BP, Shell and commodity traders Vitol and Trafigura, said there was a need for "time-limited emergency liquidity support to ensure that wholesale gas and power markets continued to function," the report said. The letter was dated March 8 and sent to market participants and regulators, the Financial Times reported. EFET members have raised the issue with central banks, the FT reported, citing people familiar with the matter. EFET didn't immediately respond to a request for comment on the report.
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