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Daily Update — September 22, 2026

US Coal Outlook; Climate Risks for SET100 Companies; and Summer Box Office Results

Today is Tuesday, September 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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Energy & Commodities

US coal production is trending lower year over year

 

Persistently low natural gas prices during summer have favored gas-fired generation over coal in the US, reducing thermal coal demand amid elevated stockpiles and seasonal weakness. The US Energy Information Administration forecasts domestic coal consumption will drop 8% year over year in 2026. US coal exports, meanwhile, increased 19.1% year over year in the second quarter, buoyed by higher LNG and natural gas prices abroad and increased supply from reopened West Virginia mines and Warrior Met Coal's Blue Creek mine, partially offsetting domestic demand declines and supporting producer results.

 

Coal production is expected to remain constrained through 2027 amid elevated coal stockpiles and lower-priced natural gas. The market will also face renewed pressure from expanded solar and wind generation in regions with supportive economics and state policies. The S&P Global Market Indicative Power Forecast projects coal plant retirements and reduced utilization through 2035, with 44.4 gigawatts of plants expected to retire and coal's share of total US generation forecast to decline to 7.2% from 16.3% in 2027.

Energy Expansion

The projected financial cost of climate change physical hazards for Thailand’s listed companies

 

Major companies in Thailand may incur billions of dollars in annual physical climate change costs in the coming decades, according to an S&P Global Sustainable1 analysis. Annual financial impacts from climate risks for companies in the SET100, a primary Thai index, could rise to $10.9 billion in the 2050s under a medium climate change scenario if no adaptation measures are implemented — a sharp increase from an estimated $5.0 billion in the 2020s and $6.9 billion in the 2030s. The main drivers of these rising costs are extreme heat, water stress, drought and pluvial flooding. However, most SET100 companies have climate adaptation plans in place, which could help mitigate some of these potential expenses.

 

The analysis covers the physical climate risks of 84 companies in the SET100 that collectively represent about 97% of the index’s total market capitalization.

Technology & Innovation

Listen: Beyond the Billion-Dollar Hits: The Surprising Winners and Losers of the Summer Box Office

 

The summer box office delivered a blockbuster performance, generating $4.64 billion in the US — the second-highest total on record. In this episode of the "MediaTalk" podcast, S&P Global Market Intelligence Kagan's Wade Holden and S&P Global's Mac Mathews joined host Mike Reynolds to unpack the factors behind the surge, including standout hits such as "Spider-Man: Brand New Day" and "The Odyssey," and a record release slate of 331 films.

 

The discussion also examined the surprising struggles of high-profile releases such as "Supergirl," "Masters of the Universe," "Star Wars: The Mandalorian and Grogu" and the live-action "Moana." Their underperformance contrasts with breakout successes such as "Obsession" and "The Backrooms," illustrating how cultural buzz can outweigh budget or franchise pedigree. The conversation then turned to the fall lineup, considering whether it can sustain the momentum and what lessons studios might draw from the summer.

In case you missed it

  • Water levels in the Rhine dropped to 20 centimeters on Sept. 18 and are forecast to reach zero by month-end, threatening to halt barge transport along the key European fuel supply route, with only limited services expected to continue on some stretches.
  • Heidelberg Materials plans to close its 500,000 metric ton/year cement plant in Ranville, France, citing challenging economic conditions and its efforts to optimize its European production network.
  • Continental Resources has signed a memorandum of understanding with Venezuela's state oil company PDVSA to operate and develop the Ayacucho 2 Block in the Orinoco Belt, marking one of the first US independent oil producer entries into Venezuela's heavy crude sector.

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