26.03.202607:09:24UTC+00Coal Steadies on Mideast Uncertainty

Coal prices hovered near $140 per ton, halting a recent downturn as investors weighed ongoing uncertainty surrounding diplomatic efforts to end the Middle East conflict. The United States has maintained that peace talks are in progress, with the Trump administration reportedly submitting a 15-point proposal to Iran in an attempt to resolve the crisis. Tehran, however, has signaled it has no intention of engaging in negotiations with Washington and is expected to reject a US-backed ceasefire plan. Instead, Iran is said to be preparing a five-point counterproposal that would grant it control over the Strait of Hormuz.

Coal prices had climbed roughly 20% since the onset of the Iran war, as sustained disruptions to global oil and gas supplies pushed major economies’ power producers to increase their reliance on coal-fired generation. Elevated natural gas prices are likewise driving European countries to expand coal-based electricity output, even as renewable energy production continues to rise.