European Coal Falls to Lowest Since 2007 as Demand Outlook Dims
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European coal prices fell to the lowest in more than seven years amid a worldwide glut of the fuel as governments from the U.S. to China boost efforts to shift away from the most-polluting energy source.
Prices for delivery next year to northwest Europe slid as much as 0.7 percent before reversing the drop, according to broker data compiled by Bloomberg. The benchmark contract had a third straight weekly decline as demand growth slows in China, the world’s biggest consumer.