Europe's gas and energy trading industries have urged the European Union not to cap gas prices, as Brussels seeks ways to protect consumers and businesses from energy price spikes.

BRUSSELS — The European Union is not planning to include a gas price cap in its upcoming strategy to slash energy prices, a European Commission official said, pushing back on chatter that the EU executive was eyeing the measure.

Europe’s biggest energy producers and traders warned the European Commission against introducing a gas price cap as a tool during times of crisis, after some officials raised the idea in recent months.