Natural gas prices in Europe fall to pre-invasion levels

European natural gas prices, which soared last year after Russia’s invasion of Ukraine, have now fallen well below levels before the start of the war, reflecting the continent’s success rounding up alternatives to Russian gas, widespread conservation efforts and a relatively mild winter.

But the news comes as Europe’s economy is slowing — half of the European Union is expected to be in recession this year, Kristalina Georgieva, the head of the International Monetary Fund, said Sunday — and the slumping gas price also signals diminished demand for energy.