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As of now, 2020 settlements are yet to be confirmed, and price ideas between buyers and miners for some met coal grades are likely as much as $20-$30/st apart. Pig iron output was expected to fall at some mills later this year, based on individual steel producers' plans.

When it comes to buyers of Oxbow, "several companies could be interested. The question is if it's $2 billion or $4 billion," said the market source. The source said he has not heard of any interested buyers. "Anyone in the US putting tonnage into the seaborne market, as long as that lasts, the terminal will make money," said Aldina.

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On the other side, tenders offering cargoes for sale in the spot market, such as those for Russia's ESPO Blend crude, have failed to get much traction from buyers despite relatively attractive freight charges compared with higher shipping costs

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The volume available for sale represents 80% of the 850,000 b/d total crude production estimated by PDVSA for February, according to the monthly production plan obtained by S&P Global Platts. Production rose to a one-year high of 820,000 b/d in January, according to the latest S&P Global Platts survey of OPEC output.

CCU, which is affiliated with veteran US coal executive Charles Ungurean, who co-founded Buckingham's sister Ohio company, Oxford Mining, emerged as the preferred Buckingham buyer after a "comprehensive marketing process" launched by Westmoreland last August resulted in only one would-be buyer CCU that would be willing to assume Buckingham

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It followed a similar move by Algiers earlier in the year when it blocked the sale of Anadarko's Algerian assets to France's Total. "We always knew Algeria is a tough place to do business. But Algeria today is sending a very negative message to the market," Rigas said. "Energean is investing $2 billion in the Mediterranean today.

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The volume available for sale represents 80% of the 850,000 b/d total crude production estimated by PDVSA for February, according to the monthly production plan obtained by S&P Global Platts. Production rose to a one-year high of 820,000 b/d in January, according to

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CCU, which is affiliated with veteran US coal executive Charles Ungurean, who co-founded Buckingham's sister Ohio company, Oxford Mining, emerged as the preferred Buckingham buyer after a "comprehensive marketing process" launched by Westmoreland last August resulted in only one would-be buyer CCU that would be willing to assume Buckingham

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