What do coal and oil prices trends have in common?

Thermal coal and oil prices have been falling roughly in tandem since December 2014 even though their supply is affected by different dynamics and the commodities scarcely compete with each other. The common factor is US shale oil and gas production that has been a driver of oversupply in both markets, and weak currencies in coal exporting markets have indirectly strengthened the effect of oil prices on coal production costs.

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