Target $18.72, page-4868

I have noticed that coal prices tend to track gas prices on a delayed timeframe. Over the last 30 days natural gas prices have remained steady following their dramatic fall. Coal prices continued to fall in that time. It took coal prices at least a month to fall after gas prices began to fall near the end of 2022. We can see the delayed action below. If gas remains above $2.50, we may see coal prices settle around the $200 mark if it were to track gas prices as it has up until this point. Gas prices are also very close to historic lows, suggesting there is far more upside potential than downside risk.