FX.co ★ Coal Holds Near 17-Month Highs

Coal prices climbed above $140 per ton on Friday, trading near their highest levels since October 2024, as continued uncertainty over diplomatic efforts to end the Iran war sustained a risk premium across energy markets. In the latest developments, President Donald Trump extended by 10 days a deadline for potential strikes on Iranian energy infrastructure to allow more time for negotiations, though the Pentagon is reportedly preparing to deploy up to 10,000 additional ground troops to the Middle East. Since the onset of the Iran war, coal prices have risen by more than 20%, as persistent disruptions to global oil and gas supplies have pushed power producers in major economies to increase their reliance on coal. Japan has joined other countries in signaling plans to ramp up coal-fired power generation in order to manage the energy shock stemming from the conflict in the Middle East.