Coal prices are soaring as the global energy crisis forces power providers worldwide to boost usage of the carbon-laden mineral.

Why it matters: A renewed embrace of coal represents a turnabout from the previous global focus on cutting emissions.

Driving the news: Coal prices around the world have reached new highs in recent weeks.

 • Europe's benchmark coal futures price is up roughly 90% from last year to over $320 per metric ton.

 • Australia's Newcastle coal, a benchmark for the Asian market, also hit a record of more than $450 per metric ton in recent days.

 • U.S. coal prices are also hitting records of nearly $200 per short ton.

https://www.axios.com/2022/09/13/energy-crisis-revived-the-coal-market