Indonesia gas prices rise in tandem, fueled by Middle East situation

Coal prices have recently risen sharply to a six-week high, following the same trend as soaring natural gas prices.Newcastle coal prices rose to $149.6 per ton in November and are expected to reach $151.5 in December, while Rotterdam coal prices rose to $123.45 in November and are set to reach $123.75 in December. Escalating conflict in the Middle East raised concerns about gas supply disruptions, causing high market volatility. The conflict in the Middle East and the imbalance between energy supply and demand drove up gas and coal prices, despite the continuation of a weak demand trend due to high temperatures in Central and Western Europe.

In addition, China's National Day stock replenishment, heavy rainfall cuts and increased industrial consumption supported coal prices, while the central bank launched new stimulus measures to deal with the economic slowdown and the real estate crisis, and India's renewable energy production declined by 161 TP3T, while coal-fired power generation increased by 151 TP3T, which also had an impact on the coal market.