Canacol Energy Ltd (TSX:CNE, BVC:CNEC) announced that it has entered into a credit agreement in the amount of US $140 million senior secured 5-year loan with a group of banks led by Credit Suisse along with Citibank, Corpbanca, and Export Development Canada.
Bloomberg reported Credit Suisse Group AG dropped its price forecast for thermal coal at Australia's Newcastle port to an average of $98 a metric ton.
With booming demand and a growing global community of market participants, coking coal swaps signal an evolution in the coal marketplace.
Various natural disasters, coupled with continued demand growth from emerging markets, have supported strong prices of both thermal and metallurgical coal markets in 2011, but expect prices to slide in Q4.
Oil prices gained as much as 1 percent with analysts offering further support; expecting a decline of 1 million barrels of U.S. oil supplies from 363.2 million last week. Oil inventories have not fallen nationwide for two consecutive weeks since January.
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