The EIA weekly coal report showed a stable price from most basins. The change occurred in the most expensive coal, Northern Appalachian, which fell 2% to $146 per short ton, and Illinois Basin coal, which rose 33.8% to $95. Prices are double to triple the level they were just last year, pressuring utilities to raise electricity prices in the months ahead to recover the higher costs.
In oil, crude oil imports by China in July were actually lower than their year ago level. There are different rationales put forward like (more…)