European coal for next-year delivery advanced to the highest level in a more than a month as oil gained on concern that the clash between Israel and Hamas will escalate into a wider conflict.
Thermal coal for delivery in 2013 to Amsterdam, Rotterdam or Antwerp added as much as 0.7 percent to $97.25 a metric ton, the highest level since Oct. 10, and traded at $97.20 at 2:51 p.m. in London, according to broker data compiled by Bloomberg.
Brent crude for January settlement increased 71 cents, or 0.7 percent, to $108.72 a barrel on the London-based ICE Futures Europe exchange.
Bloomberg tracks information from ICAP Plc, GFI Group Inc., Marex Spectron Group Ltd., Credit Suisse Group AG, IHS McCloskey, Tradition Financial Services and Tullett Prebon Plc.
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