The Allure of Black Gold When Crisis Looms

The government is not only positioning coal as a pillar of energy security but also as a solution to achieve energy self-sufficiency.

Jakarta (ANTARA) - “Coal will always be the favourite when oil prices skyrocket,” stated energy expert Yayan Satyakti from Padjadjaran University (Unpad), regarding the movement of coal prices amid the war triggered by the United States-Israel attack on Iran.

While the gold price chart has shown a downward trend over the two months since the war broke out, the coal commodity has displayed the opposite trend.

Coal prices once reached $145.86 per tonne in mid-March 2026. A month earlier, the price was $115 per tonne.

The jump in coal prices occurred right after the US-Israel launched an attack on Iran, and it continued to soar since Iran closed the Strait of Hormuz.

The closure of the Strait of Hormuz demonstrates how fragile the world’s energy supply chain is, while also revealing the allure of black gold.

When limitations in oil and natural gas ignite a global energy crisis, the presence of coal emerges as a saviour in times of emergency. It is black gold that becomes the world’s favourite.