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Daily Update — July 22, 2026

US Coal Prices Under Pressure; Mexico Corporate Sustainability Standards; and Q2 GenAI Funding Drops

Today is Wednesday, July 22, 2026, and here’s your curated selection of Essential Intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.

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Metals & Mining

Slack demand, surging inventory pressurize US coal prices

 

US coal producers cited cost pressures and low demand as factors that reduced first-quarter earnings. Asia-Pacific demand for coking and thermal coal may help close the gap, but energy markets remain unsettled. Higher stockpiles in spring worked to pressure US prices in June.

 

Federal policy actions, including delayed coal plant retirements and funding for coal plant refurbishment and unit additions, have underpinned a more stable demand and regulatory landscape for coal. While firmer natural gas prices supported coal generation via gas-to-coal switching in 2025, high coal stockpiles are forecast to constrain production through 2027. After 2027, the US coal market is forecast to face renewed pressure from the expansion of solar and wind generation in regions with supportive economics and state policies.

Sustainability

Listen: Inside Mexico’s sustainability standards for public and private companies

 

Mexico is one of more than 40 jurisdictions that have adopted or are in the process of adopting the International Sustainability Standard Board’s disclosure standards.

 

In this episode of the “All Things Sustainable” podcast, S&P Global Energy Horizons senior researcher Jennifer Laidlaw and Patricia Moles, a member of the Mexican Financial and Sustainability Reporting Standards Board’s standards issuing committee, joined hosts Lindsey Hall and Esther Whieldon to discuss how the country has tailored its standards to local conditions and why specific standards were created for private companies. Moles also explained how Mexico has created an alliance of Latin American countries to promote sustainability reporting in the region without overburdening companies.

Artificial Intelligence

GenAI funding falls in Q2 2026 as large players start moving to public markets
 

Second-quarter financial backing for generative AI application companies was halved from the previous quarter, totaling about $70 billion across 18 deals, according to S&P Global Market Intelligence data. This decline followed a record-breaking first quarter, which was heavily influenced by OpenAI’s $120 billion funding round. In the second quarter, Anthropic secured the most significant investment at $65 billion.

 

The GenAI industry is experiencing a noticeable transition as major AI entities pivot from private funding to public markets and strategic acquisitions. For example, Space Exploration Technologies acquired X.AI for $250 billion shortly before going public in June. Furthermore, industry leaders such as OpenAI and Anthropic have confidentially filed regulatory paperwork for their public offerings, which are anticipated to launch by late 2026 or early 2027.

In case you missed it

  • Tankers transiting key Middle East shipping lanes have been targeted in a series of attacks and unauthorized boardings.
  • The White House aims to prevent cyberrisks to critical infrastructure by using AI to detect and fix vulnerabilities faster than attackers can exploit them.
  • Alcohol-to-jet technology is gaining momentum in Taiwan and South Korea, where ethanol-based sustainable aviation fuel is emerging as a key solution to domestic feedstock limitations.

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