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Rising oil prices drive substitution effect, pushing up coal futures

Rising oil prices drive substitution effect, pushing up coal futures

汇通财经汇通财经2026/03/09 08:52
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Due to the ongoing conflict in the Middle East, the world is accelerating efforts to reduce dependence on local oil and gas, causing coal prices to soar to their highest levels since November 2024. Asian Newcastle coal futures surged by 9.3%, reaching $150 per ton, while crude oil prices during the same period also approached $120 per barrel.
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