Coal prices surged above $140 per ton, reaching their highest levels since October 2024, as prolonged disruptions to global oil and gas flows stemming from the Middle East conflict pushed power generators in major economies to rely more heavily on coal for electricity. Soaring natural gas prices are driving European countries to increase coal-fired generation despite rising output from renewable sources. European gas futures have climbed to three-year highs after Iran launched attacks on Qatar’s largest LNG export facility in response to an Israeli strike on Iran’s South Pars gas field. In Australia, New South Wales announced a ban on new coal mine applications as part of its net zero targets, further tightening supply. NSW exports most of its thermal coal to power stations in Japan, China, and Taiwan. Meanwhile, Indonesia has moved to allow miners to boost output following the recent price surge triggered by disruptions linked to the Iran conflict.

Coal rose to 146.50 USD/T on March 20, 2026, up 0.90% from the previous day. Over the past month, Coal's price has risen 25.75%, and is up 51.03% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Coal reached an all time high of 457.80 in September of 2022. Coal - data, forecasts, historical chart - was last updated on March 23 of 2026.

Coal rose to 146.50 USD/T on March 20, 2026, up 0.90% from the previous day. Over the past month, Coal's price has risen 25.75%, and is up 51.03% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Coal is expected to trade at 146.81 USD/MT by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 158.01 in 12 months time.



Price Day Month Year Date
Crude Oil 98.71 0.478 0.49% 50.40% 42.83% Mar/23
Brent 112.27 0.083 0.07% 58.65% 53.80% Mar/23
Natural gas 3.03 -0.0660 -2.13% 6.99% -23.39% Mar/23
Heating Oil 4.61 0.0033 0.07% 71.64% 104.16% Mar/23
Coal 146.50 1.30 0.90% 25.75% 51.03% Mar/20
TTF Gas 59.26 -2.60 -4.20% 88.37% 39.21% Mar/20
UK Gas 151.10 -5.5400 -3.54% 96.69% 46.98% Mar/20
Bitumen 4,558.00 11.00 0.24% 35.74% 28.68% Mar/20
Ethanol 2.00 -0.0050 -0.25% 14.94% 10.96% Mar/20
Uranium 84.40 -0.2500 -0.30% -5.06% 29.75% Mar/20
Cobalt 56,290.00 0 0% 0% 55.63% Mar/19
Lead 1,900.63 1.30 0.07% -2.76% -6.38% Mar/20
Aluminum 3,194.95 -47.05 -1.45% 3.30% 21.66% Mar/20
Tin 43,540.00 -1523 -3.38% -6.48% 23.17% Mar/19
Zinc 3,073.40 2.15 0.07% -8.21% 4.89% Mar/20
Nickel 16,885.00 -180 -1.05% -2.31% 4.16% Mar/20
Palladium 1,412.50 -33.00 -2.28% -22.30% 49.00% Mar/23


Coal
Coal futures are available for trading in the Intercontinental Exchange and on the New York Mercantile Exchange. The standard GC Newcastle contact listed on ICE weights 1,000 metric tonnes. Coal is the major fuel used for generating electricity worldwide. The biggest producer and consumer of coal is China. Other big producers include: United States, India, Australia, Indonesia, Russia, South Africa, Germany and Poland. The biggest exporters of coal are: Indonesia, Australia, Russia, United States, Colombia, South Africa and Kazakhstan. Coal prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our coal prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
146.50 145.20 457.80 48.40 2008 - 2026 USD/MT Daily

News Stream
Coal Extends Rally on Mideast Disruptions
Coal prices surged above $140 per ton, reaching their highest levels since October 2024, as prolonged disruptions to global oil and gas flows stemming from the Middle East conflict pushed power generators in major economies to rely more heavily on coal for electricity. Soaring natural gas prices are driving European countries to increase coal-fired generation despite rising output from renewable sources. European gas futures have climbed to three-year highs after Iran launched attacks on Qatar’s largest LNG export facility in response to an Israeli strike on Iran’s South Pars gas field. In Australia, New South Wales announced a ban on new coal mine applications as part of its net zero targets, further tightening supply. NSW exports most of its thermal coal to power stations in Japan, China, and Taiwan. Meanwhile, Indonesia has moved to allow miners to boost output following the recent price surge triggered by disruptions linked to the Iran conflict.
2026-03-20
Coal Holds Near 16-Month High
Coal held above $130 per ton, hovering near its highest levels since November 2024 after Indonesia unveiled plans to prioritize domestic supply as the Middle East war drove prices higher. President Prabowo Subianto’s administration has signaled it will introduce rules to ensure its expanding industrial sector can access cheaper coal before any volumes are exported. Indonesia is the world’s largest exporter of coal for power generation, accounting for roughly 50% of global supply. A prolonged disruption to oil and gas flows through the Strait of Hormuz could force power generators in major economies to rely more heavily on coal for electricity. Coal remains the most carbon-intensive fossil fuel, but despite efforts by environmentalists, financiers, and governments to curb its use, demand has stayed resilient. Global thermal coal demand has increased in each of the past two years, according to the IEA, particularly in India and Southeast Asia.
2026-03-17
Coal Resumes Rally on Surging Energy Prices
Coal climbed toward $140 per ton, approaching its strongest levels since November 2024 as fears of prolonged global supply disruptions from the Middle East conflict pushed energy prices higher. Brent crude futures surged back above $100 a barrel after Iran’s new supreme leader, Mojtaba Khamenei, pledged to keep the Strait of Hormuz effectively closed while Tehran intensified attacks on regional oil and transport facilities. US President Donald Trump also said preventing Iran from obtaining nuclear weapons and threatening the Middle East is more important than the cost of oil. Meanwhile, several major energy traders have begun declaring force majeure to customers after Qatar’s LNG shutdown rippled through global gas markets. Supply shocks in oil and gas typically increase demand for fuel switching in the power sector. With many Asian economies reliant on Qatari LNG, the region may be forced to ramp up coal-fired power generation if the disruption persists.
2026-03-13