IEA: Hormuz Closure Spurs Record Global Coal Demand in 2026

The IEA's mid-year update projects global coal demand will hit a record high this year as the Strait of Hormuz closure disrupts oil and gas trade, forcing countries to fall back on coal amid depleted inventories and high gas prices. The forecast hinges on the duration of the Hormuz closure and the pace of renewable expansion, both uncertain. This marks a reversal of the recent coal decline trend, with significant implications for emissions and energy security.