European Coal Futures Dip to 2008 Levels

Reuters reported that European coal futures continued their descent, hovering around levels not seen since the beginning of the global fiancial crisis in 2008 on news that a resolution to the Colombian coal strike is likely in sight.

As quoted in the market report:

API2 2014 coal futures contracts were trading around $96.60 a tonne at 1445 GMT on Monday, over 30 percent below their most recent peak around $138 a tonne reached in spring 2011, when the Arab spring, Australian floods, and the nuclear disaster at Japan’s Fukushima reactors caused a spike in energy prices.

To view the whole Reuters report, click here.