European Coal Price Has Biggest Drop in More Than a Week

European coal for 2013 delivery rose to the highest price in more than a week as crude oil gained.

Thermal coal for delivery next year to Amsterdam, Rotterdam or Antwerp advanced 0.5 percent to $97.45 a metric ton, at 1:45 p.m. in London, according to broker data compiled by Bloomberg. That’s the highest level since Nov. 23.

Brent crude for January settlement rose 38 cents to $111.61 a barrel on the ICE Futures Europe exchange in London as China’s official manufacturing index reached a seven-month high, signaling economic recovery in the world’s second-biggest crude consumer.

Bloomberg tracks information from ICAP Plc, GFI Group Inc., Marex Spectron Group Ltd., Credit Suisse Group AG, IHS McCloskey, Tradition Financial Services and Tullett Prebon Plc.

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