What happened Shares of Peabody Energy (NYSE: BTU) jumped as much as 14% in trading on Wednesday as coal prices continued to spike. Shares of the energy stock closed the day up 6.4% and are up 38.7% so far this month. So what Spot prices for coal have jumped 1.8% as I'm writing this today and are now up 98% for the year. The increase in commodity prices could help push Peabody's operations toward profitability in 2021. Image source: Getty Images. Increasing demand for coal as the global economy recovers is happening just as output from Indonesia and China decline. It's not entirely clear how long the increase in prices will last, but Peabody Energy could see a windfall from its operations in 2021. Now what Should you be buying coal stocks based on the price increase in coal? I think the clear answer is no. Coal demand is in structural decline around the world as renewable energy beats it on cost and countries try to reduce emissions. The spike in spot coal prices could be very short-lived until Asian mines increase output and we get through a hot summer season -- with its peaking electricity demand for air-conditioning -- in North America. Coal is hot today, but that's not likely to last. 10 stocks we like better than Peabody Energy CorporationWhen our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Peabody Energy Corporation wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 7, 2021 Travis Hoium has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source