The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
1513 ET - U.S. natural gas futures post solid gains as continuing cold weather keeps near-term demand expectations high while production hasn't fully recovered from major freeze-offs early in the week. Nymex gas for March delivery, which moved to the front of the curve at a big discount to February, settles up 11% at $4.354/mmBtu. The storage outlook is bullish with the surplus over the five-year average likely to swing to a 100 Bcf deficit with next week's report, NatGasWeather.com says in a note. "And with frigid temperatures continuing this weekend, the following draw will also be larger than normal."(anthony.harrup@wsj.com)
1326 ET - The number of rigs drilling for oil in the U.S. is unchanged this week at 411, and down by 68 from a year ago, oil services company Baker Hughes reports. Rigs directed at natural gas rose by three to 125, or 27 more than a year earlier. U.S. oil production remains near record levels thanks to well efficiency, averaging 13.7 million barrels a day in the four weeks through Jan. 23, according to the latest weekly data from the EIA. Production likely fell this week, however, as winter storm Fern led to freeze-offs in oil and gas wells. (anthony.harrup@wsj.com)
1126 ET - U.S. natural gas futures are rising further with persistent cold holding up demand while production recovers gradually. Wells that were frozen in during winter storm Fern are returning a little slower than had been expected, says BOK Financial's Dennis Kissler. The U.S.-Iran tensions that have sent oil prices higher could also play into the natural gas market, he says. With almost 30% of global LNG going through the Strait of Hormuz, if that were blocked it would give Nymex gas a lift. "I think nobody wants to go short over the weekend. The longer-term fundamentals probably don't support this, but near term anything can happen." Nymex gas is up 8.5% at $4.251/mmBtu. (anthony.harrup@wsj.com)
0943 ET - Grain futures are mostly higher as markets worry about potential supply-chain disruptions in the event of a U.S.-Iran war. Wheat extends gains fueled by geopolitical tension, while corn takes support from President Trump's apparent backing of higher ethanol content in gasoline. Soybeans are down on the prospect of massive Brazilian crops. On the macro front, wholesale inflation is higher than expected and markets see President Trump's pick for Fed Chair, Kevin Warsh, as unlikely to speed up the pace of interest rate cuts. That supports the dollar and cools down the metals rally. On the CBOT, soybeans fall 0.6%, corn rises 0.5% and wheat gains 0.2%. (paulo.trevisani@wsj.com; @ptrevisani)
0938 ET - U.S. natural gas futures are gaining in early trade as weather forecasts maintain high demand for heating. Yesterday's larger-than-expected 242 Bcf storage withdrawal ahead of winter storm Fern is contributing to the rise, with more extensive draws foreseen in coming reports. "The bulk of the extreme cold and recent production shut-ins were not fully reflected in this report," Andy Huenefeld of Pinebrook Energy Advisors says in a note. And even as temperatures revert closer to normal in the first week of February, "a cold bias is expected to remain in place over key population centers in the eastern half of the country." Nymex gas for March delivery is up 4.5% at $4.095/mmBtu. (anthony.harrup@wsj.com)
0832 ET - Oil futures slip, with the market watching for talks between the U.S. and Iran that could put off potential U.S. military action. Increased risk of strikes against Iran with the U.S. military buildup in the region was largely what sent oil prices to multi-month highs this week. "The market appears to be concerned about the potential blockade of Iranian crude oil exports or a threat by Iran to close the Strait of Hormuz," Alex Hodes of StoneX says in a note. While a drop in exports would be a substantial supply disruption, closure of the strait appears to be an "extremely unlikely scenario," he adds. WTI is off 0.6% at $65.02 a barrel. Most active Brent is off 0.7% at $69.14.(anthony.harrup@wsj.com)
0653 ET - Chevron says in its fourth-quarter earnings release that it is still committed to Venezuela and is in contact with the U.S. and Venezuelan governments following the U.S. capture of President Nicolas Maduro. "As developments progress in Venezuela, Chevron continues to engage with the U.S. and Venezuelan governments to advance shared energy goals," the company says. Chief Executive Mike Wirth says the company remains committed to Venezuela's present and stands ready "to help it build a better future while strengthening U.S. energy and regional security." (nicholas.miller@wsj.com)
0447 ET - European natural-gas prices rise in midmorning trading, with the benchmark Dutch TTF contract up 1% to 38.97 euros a megawatt-hour. Prices have gained more than 40% on the month, driven by cold temperatures, tight storage levels and a severe winter storm in the U.S. raising concerns about LNG supply. Meanwhile, traders are keeping a close eye on tensions between the U.S. and Iran as any potential escalation could disrupt shipping through the Strait of Hormuz, threatening a substantial share of global LNG supply. Qatar--the world's second-largest exporter--ships volumes though the strait. The country accounted for roughly 19% of global LNG export volumes last year, according to ING. (giulia.petroni@wsj.com)
0427 ET - Signify's latest update marks a meaningful reset under its new CEO, ING analyst Marc Hesselink writes in a note. The Dutch lighting company said it would begin a 180 million-euro cost-cutting plan aimed at resetting its cost base. Signify delivered a weak fourth-quarter performance, Hesselink says. Additionally, its Ebitda margin outlook came in well below expectations at the midpoint, at about 150 basis points under consensus, he adds. Shares are down 14% at 18.58 euros. (najat.kantouar@wsj.com)
0356 ET - Shares in London-listed oil companies fall as tension between the U.S. and Iran continues to push oil prices higher and point to potential disruptions in major trade routes in the region, Swissquote analyst Ipek Ozkardeskaya says. "Demand for hard commodities and safe-haven assets is certainly not over. That said, a correction looks healthy at these strongly overbought levels," Ozkardeskaya says. Tullow Oil is down 6.2%, followed by Harbour Energy, Ithaca Energy and Seplat Energy, down 2.5%, 2.2%, and 1.3% respectively. Oil majors BP and Shell are also down, 1% and 0.9% respectively. (anthony.orunagoriainoff@dowjones.com)
0357 ET - Oil prices retreated following a three-day rally but remain on track for significant weekly gains as the possibility of U.S. military action against Iran keeps markets on edge. Brent crude is down 1.8% to $68.32 a barrel after breaching $70 in the previous session, while WTI falls 1.7% to $63.11 a barrel. "A broad risk-off shift hit equities and metals while the dollar strengthened, prompting profit-taking in crude markets," says Soojin Kim from MUFG. Despite the pullback, Brent and WTI are still up 3.7% and 4.5% on the week, respectively, as heightened geopolitical risks continue to offset expectations of ample global supply. (giulia.petroni@wsj.com)
(END) Dow Jones Newswires
January 30, 2026 15:13 ET (20:13 GMT)
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