European Winter Gas Prices Drop

European winter natural gas price benchmarks dropped over 1.5 percent on Friday afternoon as a deal between the European Union, Russia and Ukraine that would help prevent a winter supply shortfall appeared closer.

British benchmark natural gas prices for delivery during the winter 2014/2015 season, which starts next Wednesday, dropped 1.54 percent to 57.65 pence per therm.

Russia's energy minister Alexander Novak said after gas talks with Ukraine in Berlin on Friday that an interim deal mediated by the European Union could be the basis for a solution over the winter.

(Reporting by Henning Gloystein, editing by William Hardy)