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Hormuz Crisis to Push Global Coal Demand to Record High
The International Energy Agency expects coal demand to increase this year in response to ongoing oil and gas trade constraints stemming from the closure of the Strait of Hormuz.
Summary
The International Energy Agency expects coal demand to increase this year in response to ongoing oil and gas trade constraints stemming from the closure of the Strait of Hormuz. Several countries have been forced to turn back to coal to fill the gap, as oil inventories are depleted and countries gradually expand their renewable energy capacity.
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