Prices plunge as 2017 coal, carbon and power turn bearish

(Reuters) - UK prompt gas prices plunged on Tuesday, the first full trading day of 2017, as weak demand and ramped-up North Sea supply wiped out more of last month's gains, matched by sell-offs on European coal, carbon and power markets. Trading in 2017 got off to a bearish start with the exception of Brent crude oil, rising to $58 a barrel amid hopes for production cuts, even as power plant fuels faced sharp selling pressure. [O/R] The price of gas for instant delivery fell by 3.15 pence or 5.9