Crude
Brent lost 1c to $37.92 overnight after falling as low as $36.33, while WTI gained 69c to settle at $36.31. Iran made a definitive announcement that they will not delay production increases if and when their nuclear sanctions are lifted early next year, even if prices decline further. The statement confounded the market's concerns over OPEC's production levels in an already oversupplied market. US House democrats also announced that they are open to negotiate with Republicans on lifting the 40 year ban on US crude oil exports.
Coal
It was another relatively volatile day for coal markets. The morning session saw the falls from Friday continue, particularly on the CAL contracts which were down over $0.50 at one point, again all helped lower thanks to weakness in gas and oil. The afternoon however saw both oil rally and a surge in the Euro on lower expectation of a US Fed rate hike. This essentially added $0.50/mt to the curves, resulting in the prompt finished well up on the day and the CAL years mostly unchanged.