This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Coal Stocks Fall As Natural Gas Prices Dip

NEW YORK (AP) â¿¿ Coal stocks fell Wednesday as the price of natural gas dropped below $4, making the coal rival an attractive option to fire more power plants.

It's not easy to retool a power plant from one fuel to another, but many plants have both coal and natural gas burners, making it possible to switch back and forth depending on relative prices of the two fuels.

Historically, natural gas has been more expensive than coal, so it tends to be used mostly to meet electricity demand during peak hours. But if gas prices keep falling, power generators could decide to increase their use of gas.

In trading on the New York Mercantile Exchange, natural gas fell 16.5 cents to $3.874 per 1,000 cubic feet.

Shares of Peabody Energy Corp. fell 98 cents, or 2.3 percent, to close at $42.23, after earlier dropping as low as $40.79. Shares of Massey Energy Corp. dropped $1.02, or 3.4 percent, to finish at $29.14; Arch Coal Inc. lost 43 cents, or 2 percent, to $21.98; Alpha Natural Resources Inc. fell 89 cents, or 2.4 percent, to close at $36.44; and Consol Energy Inc. dipped 61 cents to finish at $32.15.

Massey shares have continued to slide since the company disclosed earlier this week that it was cited by federal officials for improperly storing explosives in the West Virginia mine where 29 men died in an April explosion. The company has said there was no link between the explosives and the fatal accident.

Copyright 2010 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
ACI $1.04 0.00%
ANR $0.99 0.00%
BTU $5.19 0.00%
EGAS $9.91 0.00%
AAPL $124.75 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs