Ukraine Crisis Could Send Coal Prices To $500

Coal prices are soaring, hitting $462 per tonne today, up from $186 on the 23rd of February and likely to pass $500 this year, Rystad Energy research suggests. While most of Europe and the wider world have focused on how Russia’s war in Ukraine has impacted oil, gas, and, more recently, nickel prices, relatively little has been written about the coal price shock that is likely to hit the region and spread like a tsunami around the world. Russia is Europe’s largest supplier of thermal coal. According to Eurostat, last year, Russia supplied…