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.
1203 ET - Bank of Canada's credibility to keep inflation at 2% remains in fragile territory after the post-pandemic price surge, and could take another hit should the conflict in Iran keeps energy prices elevated for a longer-than-expected period, says an analysis from Bank of Nova Scotia economists. Credibility weakens, they say, when inflation persistently deviates from the BOC's 2% target. If the conflict drags on and BOC credibility slips further, "inflation would become more persistent and rises more sharply, requiring materially tighter policy," the Scotiabank economists say. Scotiabank's economics team has been one of the few calling for BOC rate hikes by the end of 2026 due to underlying price pressures in the economy. (paul.vieira@wsj.com; @paulvieira)
0955 ET - Crude futures extend gains on a report that Iran is halting talks with the U.S. through mediators in protest against Israeli attacks in Lebanon. Prices were higher after the U.S. and Iran exchanged strikes at the weekend, while efforts toward an agreement continued. Iran's Tasnim news agency says on X that due to "continued Israeli airstrikes in Lebanon, and given that Lebanon was part of the preconditions for the ceasefire, Iran will halt the exchange of talks and messages through the intermediary with the United States." WTI is up 6.5% at $93.03 a barrel and Brent gains 5.5% at $96.13. (anthony.harrup@wsj.com)
0847 ET - Oil futures are higher as the weekend passes without the U.S. and Iran reaching an agreement while the two sides exchange strikes. "Although both sides exchanged revised proposals, the absence of a clear breakthrough and renewed incidents in the region reinforced concerns that restrictions affecting the Strait of Hormuz could remain in place for longer than previously expected," Joseph Dahrieh of Tickmill says in a note. "While a successful agreement could eventually help push prices down, the reopening of shipping routes and normalization of energy flows would likely be gradual." WTI is up 2.9% at $89.90 a barrel and Brent rises 2.3% to $93.23. (anthony.harrup@wsj.com)
0754 ET - Equinor's shares have two tailwinds that could push them nearly 25% higher, Baader's Frederic Lorec writes. The first is a structural one, he says. The Norwegian energy major has become a key gas supplier to Europe after the bloc weaned itself off Russian gas after the invasion of Ukraine. Gas prices have been elevated since Qatari gas facilities were damaged during the conflict in the Middle East and mean Norwegian gas margins should remain supported through at least 2028, Lorec adds. Secondly, low-cost oil production means the company is benefiting from the current higher oil prices, he adds. An Iran deal would hurt both tailwinds, but this isn't the base case given the state of negotiations, he adds. Shares rise 2.9% to 344.70 krone. (adam.whittaker@wsj.com)
0319 ET - European energy stocks rise in opening trade as oil prices move higher. Oil continues to concern investors as hopes for a breakthrough in talks between the U.S. and Iran run into fresh uncertainty, Hargreaves Lansdown's Matt Britzman writes. The two countries exchanged fresh blows over the weekend, with the U.S. attacking what it said were air-defense radar and drone sites. This pushes Brent futures up nearly 3% to $93.82 a barrel and WTI up 3.2% at $90.12 a barrel. In London, Shell is up 1.1%, BP rises 0.7% and Harbour Energy moves 2.2% higher. France's TotalEnergies, Spain's Repsol and Italy's Eni all rise around 1%. (adam.whittaker@wsj.com)
1936 ET - Oil rises amid few signs of the reopening of the Strait of Hormuz. President Trump said in a Fox News interview on Saturday that the U.S. was 'close to a very good deal,' but suggested a possible return to fighting as an alternative. "Market participants seem eager to price in a resolution to the Strait of Hormuz situation but a potential deal to get to that outcome remains elusive after seven weeks of negotiations," says Amarpreet Singh, Barclays' Commodities Research analyst in a note. Front-month WTI crude oil futures are up 2.1% at $89.20 a barrel; front-month Brent crude oil futures are 1.7% higher at $92.66 a barrel. (ronnie.harui@wsj.com)
1848 ET - Ord Minnett is happy with the price paid by Amplitude Energy for the Artisan natural-gas field. Amplitude is acquiring Artisan from Beach Energy for A$58.3 million upfront and a production royalty of A$3.75/per gigajoule. "In our view, this is a fair price to pay for increased confidence in the growth outlook and is comparable with the development costs for offshore wells (but without the exploration risk)," analyst Tim Elder says. The Artisan acquisition effectively underwrites the East Coast Supply Project. Ord Minnett expects the upfront consideration will be easily funded from the company's available debt capacity of A$345 million. "We expect a re-rate on future exploration success (Juliet in July-August) and as Amplitude's progresses toward gas production growth," Ord Minnett says. It retains a buy call on the stock. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
June 01, 2026 12:20 ET (16:20 GMT)
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