The US/Israel and Iran war and the closure of the Strait of Hormuz continue to dominate the energy complex. The price of oil is extremely volatile around US$100/bbl and while coal is following, the impact differs with trade down to range of US$100-110.
The price of petcoke is increasing as supply tightens but due to wide spreads trade is limited.
On 21 April 2026 the discount for 6.5 per cent sulphur petcoke FOB sold at US$106.00 is 17 per cent when compared with API4 coal sold at US$102.00 in the 3Q26. The CIF ARA 6.5 per cent petcoke contract sold at US$137.00 is at a discount of -2 per cent when compared with API2 coal sold at US$107.50 in the 3Q26.
Petcoke with 6.5 per cent S is expected to move within the US$95-100 range with resistance at US$110 and US$135. Support is at US$90, US$80, US$70, US$65, US$58, US$50 and US$45 with multi-year support at US$46. For 2026 a price of US$125 is forecast.
by Frank O. Brannvoll, Brannvoll ApS, Denmark
