This year, U.S. coal prices have staged a fierce comeback amid renewed global demand and supply cuts. As parts of Europe and Asia face a growing energy crisis, industry observers project that the fossil fuel’s gains could be extended into 2022, prompting more countries to increase production and shipments.
Coal futures on Oct. 5 surged to fresh record highs of $269.50 per metric ton, lifting their year-to-date gains above 200 percent. Across the globe, the black combustible sedimentary rock is soaring: European coal is trading at a 13-year high, Australian Newcastle coal rallied 230 percent, and Chinese thermal coal prices have hit new all-time highs.
