The Rotterdam Coal Prices Rise

At the end of trading Friday early morning (7/02), the Rotterdam coal prices rise,helped U.S. crude oil prices strengthening.

U.S. crude oil prices ended Friday closing trade up on Wednesday (2/19), ignoring theu.s. Government data which menunjukkaan the rise in U.S. crude oil inventories, which are at odds with previous inventory reports.

The U.S. Energy Information Administration reported crude oil inventories rose 2.1 million barrels in the last week with oil refineries raise production. Analysts expect an increase of 3.9 million barrels. Previous reports have supported rising prices after the American Petroleum Institute, an industry group, said U.S. crude oil inventories unexpectedly dropped 3.3 million barrels last week.

The price of crude oil futures contracts March U.S. up 11 cents or 0.36 per cent, at $ 30.77 per barrel.

Coal prices managed to follow the positive sentiment that occurred in the crude oilmarket. As alternative fuel price hike of crude oil gave a boost to the price of coaldirect futures.

At the end of trading futures Rotterdam coal price for the most active contract that is a contract for March 2016 position 43.55 dollars per tonne. The commodity prices experienced a strengthening of the dollar or the equivalent of 0.25 0.58 percent compared to the previous closing trade positions.

Meanwhile the price of coal contracts SGX IHS McCloskey English Sub-Bit FOB Index Futures in February 2016 today traded at position 36.50 dollars per tonne.

We estimate that price movements of futures Rotterdam coal on the next tradepotentially strengthened, with the potential to increase crude oil supportedexpectations of a deal cutting production of OPEC countries and non-OPEC. But the movement is still unfolding today digested the weekly crude oil inventory data, released last night increases, it will be able to suppress the price of oil and coal pricesalso pressed.

Coal futures price could potentially test the Support level in the position and Support the two dollar 43.00 in level 42.50 dollars. While the Resistance level will be tested if there is no price increase on the position of the dollar and 44.00 44.50 dollars.