IEA: Global Coal Demand Hits Record as Hormuz Blockage Spurs LNG-to-Coal Switch

The IEA's Coal Mid-Year Update 2026 reports record global coal demand driven by LNG price spikes from the Strait of Hormuz blockage, prompting China, India, Japan, South Korea, and Europe to increase coal-fired generation. The report confirms a direct energy substitution effect, though the magnitude of the demand increase and duration of the LNG supply disruption remain uncertain. This underscores the war's cascading impact on global energy markets and emissions trajectory.