April 5, 2012 / 2:57 PM / 5 years ago

Euro Coal-Prices fall ahead of Easter weekend

LONDON, April 5 (Reuters) - European physical coal prices fell along with other energy markets on Thursday as demand was sapped from the markets ahead of the Easter holiday weekend.

Benchmark Brent crude oil fell below $123 a barrel, and benchmark UK gas prices dropped to a four-week low of 72.25 pence per therm

Additionally, the coal market remains oversupplied as exports from key suppliers along the Atlantic basin have been rising while European demand is low and stocks are healthy.

Traders said that there was virtually no interest in the physical coal market ahead of the Easter weekend.

PRICES

No trades were heard, but May South African cargoes saw a bid/offer range of $102.50 and $102.8 a tonne, according to GLOBALcoal data, putting the mid-range around 35 cents below yesterday's trades.

A June DES ARA cargo was offered at $102.25 a tonne, July was bid at $98. (Reporting by Henning Gloystein; editing by Keiron Henderson)

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