Coal surges to 13- year high as Europe Grapples
9/24/2021- 2:26 p.m.
Coal SURGES to 13-year HIGH as Europe GRAPPLES with energy shortage
European coal for next-year delivery soared to its highest level since 2008 to $139 per ton – on the back of strong demand from power stations and depleted stockpiles.
Spiraling natural gas costs are continuing to push European utilities toward a coal-fired generation – trading group ‘Energi Danmark’ commented: “Stock levels across Europe are low, and as on the gas market, coal supply from Russia has fallen lately.” (Bloomberg)
