Gas Shortage Pushes Coal Prices To 10-Year High

Tight natural gas supply and a rebound in electricity consumption have combined to push thermal coal prices to the highest in a decade, the Wall Street Journal reports, adding that insufficient rainfall in China has contributed to the trend. Citing data compiled by Argus, the WSJ’s Joe Wallace wrote that the price of export coal from Newscastle, Australia—most of which goes to Asia—has gained 56 percent over the last year. European prices have also risen, adding 64 percent since the start of the year. Coal supply is also experiencing…