Once upon a time oil and natural gas were tied at the hip. Now with natural gas moving into to the coal substitution formula cola and natural gas are attached at the hip.
US OTC thermal coal prices close higher as gas prices stabilize
Washington (Platts)
Central Appalachian and Powder River Basin 8,800-Btu/lb thermal coal prices rose Tuesday in the US over-the-counter thermal coal market, as the NYMEX natural gas February futures contract settled little changed from Monday’s 7.8% rally in price.
Spread trades were seen in good volume in the session, with the prompt quarter CAPP barge physical contract trading at a premium to the CSX swap. The March 2012 CSX physical contract was also seen…