Updated

Coal producers from South Africa to Australia are reporting sharply higher profits as the war with Iran disrupts global energy supplies and pushes buyers toward alternative fuels, according to a report published Tuesday. With oil and gas flows through the Gulf constrained, utilities in several markets have increased coal purchases, lifting prices and boosting earnings for major mining companies. Analysts cited in the report cautioned that the windfall is likely temporary and said the longer-term global shift toward clean energy remains on track, with the current price spike reflecting a short-term supply shock rather than a structural change in demand. The development illustrates how the conflict's effects on Iranian and Gulf energy exports are rippling through commodity markets well beyond the region.