Coal Gains on Middle East Disruptions

2026-03-09 07:36 By Jam Kaimo Samonte 1 min. read

Coal prices climbed above $140 per ton, hitting their highest levels since November 2024 as the escalating conflict in the Middle East and resulting disruptions significantly heightened global energy supply risks.

Oil also surged above $100 for the first time since 2022 after major Middle Eastern producers curtailed output as the Strait of Hormuz remains effectively shut.

In addition, the shutdown of Qatar’s massive liquefied natural gas production has boosted demand for fuel switching in the power sector.

Qatar’s main LNG export hub supplies about 20% of global LNG and has never fully halted operations in its 30-year history.

With many Asian economies reliant on Qatari LNG, the region may be forced to ramp up coal-fired power generation if the disruption persists.

Coal resources are also gaining strategic importance for China, both as an energy buffer and as a key feedstock for the chemical industry.



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