The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
0313 GMT - Seatrium's contract flows remain the key catalyst for its shares, but these appear relatively slow in the absence of major sizable projects in the first five months of the year, says DBS Group Research's Pei Hwa Ho in a note. The Singapore offshore and marine company has only secured some repair and upgrade jobs so far this year, she notes. Still, its order outlook remains somewhat bright, thanks to a sizable pipeline worth over 28 billion Singapore dollars for the next 24 months, she says. DBS retains its buy rating and S$3.00 target price. Shares fall 1.8% to S$2.13. (megan.cheah@wsj.com)
1909 GMT - Oil futures settle little changed as traders take a cautious approach to reports that the U.S. and Iran have drawn up a draft agreement to extend the cease-fire and negotiate peace, which would include reopening the Strait of Hormuz. Prices rose after exchanges of fire overnight, before settling back. "Markets are signaling that the conflict could be nearing its end--or at least we are first and goal," Phil Flynn of the Price Futures Group says in a note. "The oil market believes that, as you can see by this muted market reaction to last night's U.S.-Iran flare-up." WTI settles up 0.2% at $88.90 a barrel and the most-active Brent contract rises 0.5% to $92.72 a barrel.(anthony.harrup@wsj.com)
1246 GMT - Oil futures are higher but still well below $100 after the U.S. and Iran exchanged fire overnight, even as the two sides seek to reach an agreement to end the conflict. "I think oil is pricing that 'something is going to get done' between the U.S. and Iran but both sides seem eager to spread information that suggests that they are not close to a deal, while they traded strikes overnight to make it look even less likely," Scott Shelton of TP ICAP says in a note. Trading remains light as most traders "don't know whom to trust on political side of the market in terms of a deal, or what the outcome will be in near term," Shelton says. WTI is up 2.7% at $91.08 and Brent is up 2.4% at $96.58. (anthony.harrup@wsj.com)(anthony.harrup@wsj.com)
(END) Dow Jones Newswires
May 29, 2026 04:20 ET (08:20 GMT)
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