Coal Steadies on Mideast Uncertainty
Coal held around $140 per ton, pausing a recent decline as investors navigated uncertainty over diplomatic efforts to end the Middle East conflict. The US maintained that peace talks are ongoing, with the Trump administration reportedly sending a 15-point proposal to Iran aimed at resolving the conflict. However, Tehran indicated it has no intention of holding talks with Washington and plans to reject a US ceasefire offer, instead countering with a five-point plan granting it control over the Strait of Hormuz. Coal prices had surged about 20% since the Iran war began, as prolonged disruptions to global oil and gas flows forced power generators in major economies to rely more heavily on coal for electricity. Elevated natural gas prices are also prompting European countries to increase coal-fired generation despite rising output from renewable sources.
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