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Coal falling from the moving belt conveyor into the big pile

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U.S. coal prices surged past $200/ton for the first time ever Monday, sparked by the global energy crunch that has raised demand for the fuel.

Shares of big U.S. coal companies are rising across the board: (NYSE:CEIX) +7.6%, (NYSE:ARCH) +7.4%, (NYSE:BTU) +6.7%, (SXC) +5.8%, (HCC) +4.9%, (AMR) +4.8%, (ARLP) +3.4%.

Spot prices for coal from Central Appalachia rose to $204.95/ton for the week ending September 30, the highest in records dating to 2005, the U.S. Energy Information Administration reported.

Coal prices began climbing as rebounding economies around the world drove up demand for electricity faster than coal miners and natural gas producers could boost supply for power plants, and then was exacerbated when Russia’s war in Ukraine upended energy markets.

Meanwhile, coal producers are running at full-tilt and have little ability to boost output, Bloomberg’s Will Wade writes.

Consol Energy (CEIX) is in good position to benefit from the global coal bull market as it produces both metallurgical and utility coal for domestic and international customers, Leo Nelissen writes in an analysis posted on Seeking Alpha.

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