Global Energy Roundup: Market Talk

Dow Jones05-18 11:26

The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.

0326 GMT - Oil prices extend their gains given there are no signs of an end to U.S.-Iran peace talks' deadlock, analysts say. The meeting between U.S. President Trump and Chinese President Xi "yielded no tangible progress in the Middle East," ING's Commodities Strategy team says in a research report. "There had been hope that China could use its influence over Tehran to break the deadlock between the U.S. and Iran," the team says. There appears to be "no end in sight to the disruption in energy flows from the Persian Gulf," the team adds. Front-month WTI crude oil futures are 2.1% higher at $107.60 per barrel; front-month Brent crude oil futures are 1.8% higher at $111.18 a barrel. (ronnie.harui@wsj.com)

0207 GMT - Westports should be accumulated on weakness as risks from the Middle East conflict appear largely priced in, Maybank IB analyst Loh Yan Jin says in a note. She believes these risks are already largely reflected in current forecasts and valuations, while earnings upside could still emerge if container volume momentum remains resilient. The port operator expects positive volume growth in 2Q-3Q, driven partly by front-loading activities linked to the Middle East crisis and seasonal peak shipping season, although visibility for 4Q remains limited, she notes. Maybank maintains a buy rating on Westports and keeps its target price at 6.48 ringgit. Shares are 2.9% higher at 5.98 ringgit. (yingxian.wong@wsj.com)

2336 GMT - Oil rises amid prospects of a prolonged closure of the Strait of Hormuz, a waterway through which one-fifth of the world's oil is typically transported. President Trump posted Sunday on social media that "For Iran, the Clock is Ticking, and they better get moving, FAST, or there won't be anything left of them." The U.S. and Iran remain far apart on issues such as Iran's nuclear program. This impasse "raises concerns over the viability of the fragile ceasefire and casts doubt over the prospects of a peace deal," Tradu.com's senior market analyst Nikos Tzabouras says in an email. Front-month WTI crude oil futures are 1.75% higher at $107.26 per barrel; front-month Brent crude oil futures are 1.3% higher at $110.72 a barrel. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

May 17, 2026 23:26 ET (03:26 GMT)

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Global Energy Roundup: Market Talk

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