European coal for delivery in 2015 fell for a second month as natural gas tumbled after Russia agreed to terms for resuming gas exports to Ukraine. European next-year coal declined 1.3 percent to $71.55 a metric ton as of 4:55 p.m. in London, .extending the monthly loss to 3.3 percent, according to broker data on Bloomberg. U.K. gas for delivery next summer slid as much as 1.9 percent today and declined 6.2 percent in October, the biggest monthly drop since the contract started trading. Lower gas prices increase profits at power plants burning the fuel to generate electricity. U.K. utilities consumed the least coal in August since at least 1995, data published yesterday by the Department of Energy and Climate Change showed. “The deal could put downward pressure on the price of European coal,” Thomas Pugh, a commodities economist at Capital Economics Ltd., said in an e-mailed note. “The […]