Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list

European thermal coal market slow to react to crude oil surge

Energy | Oil | Crude Oil | Refined Products | Coronavirus

Back in black: The oil market’s way forward


Platts Global Coal Alert

Oil | Refined Products | Fuel Oil | Shipping | Dry Freight | Marine Fuels | Tankers

Mediterranean Bunker Fuel Conference, 9th Annual

Coal | Coking Coal | Thermal Coal | Metals | Steel

China leads metals demand recovery as trade tensions dim outlook: analysts

European thermal coal market slow to react to crude oil surge

London — The European physical thermal coal market showed little reaction to attacks on Saudi Arabia's Abqaiq processing facility and Khurais oil field, despite surging crude oil prices, market sources said Monday.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

Crude futures jumped by over 15% Monday morning, before retreating to trade around 8%-9% higher by noon London time. CIF ARA thermal coal futures were somewhat more responsive than physical prices to the events, but still suggested a muted response to the loss of half of Saudi Arabia's crude production Saturday.

The year-ahead Cal-20 contract opened at $70/mt on the Intercontinental Exchange, up $1.55/mt from Friday's close, and traded as high as $70.25/mt before settling into a rangebound pattern Monday morning.

Market sources said the price increase was unsurprising, given the similar upward movements in European gas and power pricing, but participants in the physical market would be waiting for the futures to steady before making a move.

"For now it has kind of killed liquidity as no one wants to offer a full physical cargo and then have paper fly up again if something else happens," a European coal broker said.

Coal fundamentals were too weak for any sustained longer term impact on the physical market, the source said, highlighting the oversupply in Europe.

"Short term sure, there is going to be a tracking higher but I doubt it will last long," the source said. "Paper has already stabilized this morning."

-- Joseph Clarke, Jeffrey McDonald,

-- Edited by James Burgess,