Back-end API 2 swaps fall with macro, front up with short-covering

摘要

London — Back-end European-delivered API2 (CIF ARA) thermal coal swaps halted their two-day rally by falling 90 cents Wednesday, weighed down by bearish macroeconomics and plunging Brent crude, sources said. Brent crude fell almost $4/bl on-day, while the euro slipped to a two-year low of $1.239 with Spain adding to Europe’s debt crisis.