The S&P/All Ordinaries Index (ASX: XAO) is trading down on Tuesday, currently 5 basis points in the red at 7,394.
The All Ordinaries has crept down in recent weeks, having fallen from a high of 7,887 on 21 April and cooling off to its current level.
Meanwhile, these 3 shares have spiked past their multi-year highs in Tuesday's session.
Yancoal Australia Ltd (ASX: YAL)
Shares of Yancoal have surged 130% higher in 2022 amid a bullish run for the price of coal.
The price of coal has surged another 27% in the past month of trade and has now eclipsed a 296% gain over the last 12 months.
This price action has inflected positively for Yancoal, seeing its share price cruise past its highest mark since 2018.
At the time of writing, Yancoal shares are fetching $6 apiece, meaning very patient investors have now been rewarded with a 200% gain in the last 12 months.
New Hope Corporation Limited (ASX: NHC)
Shares of New Hope have charged more than 3% higher on Tuesday and now rest at $4.09 apiece.
The $3 billion company by market cap has seen its share price rally on the back of the coal price's hefty run as well.
Not only that, but New Hope's exposure to other energy resources such as oil and gas have helped lock in a 83% gain this year to date.
Each of natural gas and Brent Crude oil have surged 130% and 64% in the last 12 months respectively.
Given that New Hope is a price taker on these commodities, the market appears to have looked favourably on the miner amid this commodity boom.
Much of the upside in these segments has stemmed from the conflict in Europe, sending concerns of a supply shock throughout global markets.
After its gain today New Hope now trades at its highest level in around 3 years.
Worley Ltd (ASX: WOR)
Shares of Worley nudged past their highest mark since 2020 in early trade today, eclipsing the $14.96 mark just after the open.
They have since trended down across the day and now rest at $14.74.
Curiously, news of a strategic partnership with Avantium Renewable Polymers progressing to the next phase received a muted reaction from the market on 18 May.
Nevertheless, Worley had already clipped a 39% total return from the 12 months to that point anyway.
At the time of writing, it had risen 38% this year to date as well.
