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Japan Pivots to Coal as Middle East Conflict Drives Up Energy Costs

Japan is shifting toward coal-fired power generation as Middle East tensions push liquefied natural gas prices higher. Utilities are reassessing fuel strategies as the conflict disrupts regional supply chains and sends fossil fuel costs surging globally. Gasoline prices in the United States have climbed to $4.50 per gallon, marking the highest level since mid-2022. The supply disruptions are reverberating across commodity markets. India has booked phosphate fertilizer at prices 40 percent above pre-war levels as regional shortages tighten global supply. China's metal exports, particularly aluminum, are gaining momentum as elevated fossil fuel costs drive demand for alternative energy products. Central banks, including Australia's monetary authority, have flagged that inflation pressures will persist longer than previously expected due to sustained commodity price increases stemming from the regional conflict.