Coal Rides Commodities Rally in Push to 10-Month High in Europe
A digger moves coal into a hopper machine at Uskmouth power station, operated by Simec Uskmouth Power Ltd., in Newport, U.K., on Thursday, March 17, 2016. The former coal-fired station based on the east bank of the Usk estuary, will be converted to generate energy using biomass.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
European coal prices surged to the highest in 10 months, buoyed by rising fuel prices and supply disruptions.
Coal for delivery to northwest Europe next year gained for a ninth day on Monday, adding 3.2 percent to the highest since August 7, according to broker data compiled by Bloomberg. The fuel has rallied 50 percent since February, when it plunged to the lowest since at least 2007.