Coal prices retreated to around $140 per ton, pulling back from 17‑month highs as energy markets broadly declined on signs of a possible de-escalation in the Middle East conflict. President Donald Trump postponed planned strikes on Iran’s energy infrastructure for five days and said that productive talks with Tehran were underway. Iran, however, denied any negotiations with the United States, dismissing Trump’s remarks as an attempt to influence financial markets.
Coal had previously surged more than 20% since the start of the Iran war, as sustained disruptions to global oil and gas supplies pushed power producers in major economies to rely more heavily on coal for electricity generation. Persistently elevated natural gas prices are also driving European countries to increase coal-fired output, even as renewable energy capacity continues to expand.
