The war in Ukraine is having a global impact on energy prices, not only driving the cost of oil higher, but also sending coal prices to record levels as demand for the fuel grows during a period of diminished supply.
The Newcastle (Australia) futures price of thermal coal for power generation hit $435/ton on March 7, the highest price ever, with coal’s price up nearly 70% this month and more than tripling since the start of this year. Supply disruptions in top coal-exporting countries such as Indonesia and Australia have contributed to the rise.
