The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
1116 ET - The recent rise in long-dated U.K. government bond yields is in line with a global increase in long-term bond yields, Goldman Sachs' George Cole and Loic Mathys say in a note. Markets are pricing inflation risk and the possibility of central banks keeping interest rates higher for longer due to high energy prices, the strategists say. Yields on 30-year Japanese government bonds, German Bunds and U.S. Treasurys are also not far from multi-year highs. U.K. 30-year gilt yields hit a 28-year high of 5.813% this week, but have since retreated to last trade at 5.664%, Tradeweb data show. (miriam.mukuru@wsj.com)
1054 ET - The U.S. saw a near-normal net injection into U.S. natural gas storage facilities last week, leaving the inventory surplus over the five-year average practically unchanged at 140 Bcf, the EIA reports. Natural gas inventories increased by 85 billion cubic feet to 2,290 Bcf for the week ended May 8, compared with an 84 Bcf average build for the week over the 2021-2025 period. The increase was slightly below the 87 Bcf estimate in a WSJ survey of analysts. Nymex natural gas futures are little changed in the wake of the report, trading down 0.3% at $2.855/mmBtu.(anthony.harrup@wsj.com)
0939 ET - The U.S. House passes legislation allowing for year-round sales of E15, moving the bill on to the Senate for a vote. Agricultural groups celebrated the political victory, but traders appear unsure if the bill can pass in the upper chamber. "Even though E15 passed in the House, traders do not feel it will pass in the Senate," says Naomi Blohm of Total Farm Marketing in a note. Corn is down 1.7% pre-market, while soybeans fall 2.5% and wheat is down 1.3%. (kirk.maltais@wsj.com)
0904 ET - Oil futures are lower with the market focused on the summit between Presidents Trump and Xi Jinping. The White House says the leaders agreed the Strait of Hormuz must remain open and that Xi opposed the militarization of the strait or the charge of a toll to use it. "Additional Chinese cooperation beyond these comments is unlikely," Ritterbusch & Associates says in a note. "The price pullback of the past couple of days has simply represented a brief technical adjustment." WTI is off0.5% at $100.50 a barrel, and Brent is down 0.7% at $104.89. (anthony.harrup@wsj.com)
0846 ET - Demand for Treasurys picks up overnight, and yields fall, as President Trump meets with China's Xi Jinping amid U.S. inflation jitters. Weekly jobless claims stay with a long-standing range, rising to 211,000 from a downwardly revised 199,000. WSJ consensus was 205,000. April retail sales rise 0.5%, as expected, slowing from March's downwardly revised 1.6%. The Middle East standoff continues and oil prices remain above $100. The WSJ Dollar Index rises slightly. The 10-year yield is at 4.445%, down from yesterday's 4.479% settle. The two-year slips to 3.961% from 3.988%. (paulo.trevisani@wsj.com; @ptrevisani)
0840 ET - U.S. natural gas futures trade sideways with the market watching for the EIA's weekly storage report due at 10:30 a.m. ET. Natural gas is trapped between support at $2.82 and resistance at $2.88, "but look for a break out of the range if storage surprises later this morning," Gary Cunningham of Tradition Energy says in a note. "A storage number in the low 80s could give the bulls a reason to push back towards $3, but without some help from the weather maps or a quick return to service from all trains in the LNG fleet we aren't likely to go that high." Analysts in a WSJ survey predict a storage injection of 87 Bcf. Nymex natural gas is off 0.7% at $2.843/mmBtu.(anthony.harrup@wsj.com)
0748 ET - Bitcoin turns slightly lower in the wake of Tuesday's higher-than-expected U.S. wholesale inflation data and the ongoing stalemate between the U.S. and Iran. However, falls are limited as bitcoin is supported by institutional demand, Block Scholes crypto analysts say in a note. Spot bitcoin exchange-traded funds are seeing just over $1 billion in net flows in the month to date, showing investor appetite remains strong in the face of macroeconomic headwinds, they say. Meanwhile, there is no obvious event risk priced in by bitcoin or altcoin options ahead of the Senate Banking Committee on Thursday considering legislation that aims to establish a regulatory framework for digital assets, they say. Bitcoin falls 0.2% to $79,543, LSEG data show. (renae.dyer@wsj.com)
0648 ET - Palm oil ended lower on weaker soybean oil prices and expectation of rising stockpiles, which are likely to weigh on price sentiment, says David Ng, a trader at Kuala Lumpur-based Iceberg X. Ng sees crude palm oil prices finding support above 4,350 ringgit a ton and resistance at 4,500 ringgit a ton. The Bursa Malaysia Derivatives contract for July delivery fell 42 ringgit to 4,396 ringgit a ton. (tracy.qu@wsj.com)
0544 ET - Elevated yields on U.K. government bonds, or gilts, could lead to weaker public finances, Nomura analysts say in a note. Yields on U.K. government bonds have surged in recent months due to high oil prices and inflation concerns caused by the Middle East conflict that have coincided with political uncertainty domestically. Ten-year gilt yields hit a near 18-year high of 5.135% this week, while 30-year gilt yields climbed to 5.813%, a 28-year high, Tradeweb and LSEG data show. High gilt yields will raise government debt repayment costs and erode the fiscal headroom of 24 billion pounds ($32.4 billion) announced in March, the analysts say. (miriam.mukuru@wsj.com)
0416 ET - Yields on eurozone government bonds fall, tracking moves in U.S. Treasurys. Trade is quiet, with many European investors away due to the Ascension Day holiday. Focus is on a meeting between President Trump and Chinese leader Xi Jinping amid tentative optimism that this could lead to progress on trade and the Iran war. U.S. Treasury yields reverse a hefty rise on Wednesday after strong U.S. producer prices data, with attention now turning to U.S. retail sales and jobless claims figures. The 10-year German Bund yield falls 1.7 basis points to 3.087%, Tradeweb data show. Ten-year Italian government-bond yields are 2.2 basis points lower at 3.829%. (jessica.fleetham@wsj.com)
0427 ET - Resilience in global equities is helping keep the euro above the key $1.17 level, ING's Francesco Pesole says in a note. This resilience is offsetting higher oil prices and tighter short-term swap rate differentials after higher-than-expected U.S. wholesale inflation data Wednesday supported expectations for the Federal Reserve to pivot towards rate rises. For the euro to break below $1.17 sustainably there needs to be softer global risk sentiment, not just higher oil prices, Pesole says. If the "thrust from artificial intelligence enthusiasm in equities comes to a sudden halt (Nvidia's earnings next week are an event risk), the downside for euro-dollar could become significant." The euro trades flat at $1.1708. (renae.dyer@wsj.com)
0425 ET - RWE is set to benefit from Germany's spending on new gas-fired power plants, RBC Capital Markets analysts write. The coalition government approved the Electricity Supply Security and Capacity Act, which will allow spending on the plants. RWE is well-placed to benefit given its has around 3 gigawatts of ready-to-build gas projects, the analysts say. "New gas tenders in Germany have been a long time coming but there is now a clear pathway to these tenders and bringing the required additional baseload capacity online," they add. Shares fall 0.5% to 56.70 euros. (adam.whittaker@wsj.com)
(END) Dow Jones Newswires
May 14, 2026 11:16 ET (15:16 GMT)
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