While that is battering producers and will cheer those predicting the end of the dirtiest fossil fuel, it’s a trough that may not last.
Languishing global prices today mask a very different future for the world’s most-consumed source of power.
Australian thermal coal contracts, the benchmark for Asia, are hovering close to US$100 ($135.13) a tonne thanks to a mild winter and global oversupply, a price level last seen in May 2021, before the energy market upheaval that followed Russia’s invasion of Ukraine.
