The price of coal continued to strengthen for a second consecutive day
on Thursday (24/08). The coal price for January 2018 contracts (the
most-active contract on the Rotterdam commodities exchange) climbed 0.45
percent to USD $78.25 per metric ton, after closing higher 0.46 percent
on the preceding trading day.
The movement of coal prices were in contrast to the performance of
crude oil prices that are hampered by Hurricane Harvey that is
approaching the distillation centers on the Texas Gulf Coast, USA.
Hurricane Harvey has forced workers to abandon several energy
platforms in the Gulf of Mexico, closing the ocean terminal, and
potentially flooding the refineries in Houston and Corpus Christi.
The West Texas Intermediate (WTI) oil price for October delivery
settled lower 98 cents to USD $47.43 per barrel on the New York
Mercantile Exchange. Total traded volume was about 7 percent above the
100 day moving average.
Meanwhile, the Brent oil price (for October delivery) fell 53 cents
to USD $52.04 per barrel on the London-based ICE Futures Europe
exchange.
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