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Coal crunch: Asia faces winter of discontent



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As winter approaches, the skyrocketing prices of oil, gas and coal have left governments across Asia scrambling to contain a huge energy crisis. Suppliers have been unable to keep up with surging electricity demand from the reopening of economies after closures for the coronavirus pandemic. US oil prices crossed $80 (€69.38) a barrel on Monday for the first time since late 2014. Natural gas futures settled at their highest level since December 2008 this week, while the price of coal in China hit a record high on Tuesday, rising by over 11% in one session. “The sharp increase in the price of thermal coal h …

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