Germany drops oppostion to EU natural gas price cap

European leaders are meeting in Brussels beginning on Friday after after some late-night talks, German chancellor Olaf Scholz has dropped his opposition to an EU natural gas price cap, according to a report.

Leaders agreed to endorse further work but added a heavy series of caveats to ensure supply, including not endangering supply and not increasing gas use due to low prices.

Member states also agreed to pursue joint purchasing of natural gas.