India, April 16 -- Prolonged disruption to energy supplies in West Asia is driving a renewed surge in global thermal coal demand and prices, as countries turn to coal to secure power amid constrained liquefied natural gas (LNG) flows through the Strait of Hormuz, according to a new analysis by Wood Mackenzie.

Coal benchmark prices have risen sharply in recent weeks. Free-on-board (FOB) Newcastle 6,000 kcal/kg coal averaged $126 per tonne in March 2026, with recent trades reaching $132 per tonne, up from $114 per tonne in February. Other benchmarks have followed a similar trajectory, with FOB Richards Bay prices averaging around $110 per tonne and cost-and-freight (CFR) Amsterdam-Rotterdam-Antwerp (ARA) prices touching $123 per tonne amid...