European Coal for 2013 Falls as Oil Declines to Lowest in a Week
European coal weakened as crude dropped to the lowest level in a week.
Thermal coal for delivery next year to Amsterdam, Rotterdam or Antwerp fell as much as 0.7 percent to $95.90 a metric ton, the lowest since July 13, according to broker data compiled by Bloomberg. The contract was at $96.10 at 2:23 p.m. London time.
Brent oil for November settlement on the ICE Futures Europe exchange in London dropped as much as $2.32, or 2.1 percent, to $109.25 a barrel as U.S. crude stockpiles climbed for a fourth week and a measure of China’s economy declined, signaling fuel demand may ease.
Bloomberg tracks information supplied by ICAP Plc, GFI Group Inc., Spectron Group Ltd., Credit Suisse Group AG, IHS McCloskey, Tradition Financial Services and Tullett Prebon Plc.
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