The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
1018 ET - The Norwegian krone is likely to weaken if oil and gas prices decline in coming months on a potential de-escalation of the Iran war, Danske Bank analysts say in a note. "In addition, we believe that Norges Bank's desire to re-anchor inflation expectations will come with a cost in the form of weaker growth and higher unemployment." Higher rates when the economy weakens will eventually contribute to a weaker krone, they say. The Norges Bank raised rates in May. Moreover, a potentially stronger dollar could contribute to a weakening in assets positively correlated to economic cycles including the krone, they say. The euro falls 0.1% to 10.7970 krone. (renae.dyer@wsj.com)
0954 ET - Crude oil prices are up over $95 a barrel, moving back towards the $100 mark as Iran and the U.S. once again exchange fire--seemingly moving the timeline backwards for reaching a peace deal and reopening the Strait of Hormuz. Higher crude oil had been a catalyst for rising grain futures, due to grains' usage in renewable fuels, although grains don't seem to be getting as much of a boost from higher oil as they had in previous months. "A rallying crude oil market hasn't stopped the bleeding on our commodity markets," says Matt Bennett of AgMarket.net in a note. Corn down 0.5%, soybeans rise 0.2%, and wheat is off 0.1%. (kirk.maltais@wsj.com)
0945 ET - U.S. natural gas futures are slightly lower with the market awaiting a recovery in LNG feedgas flows after maintenance and higher weather-driven demand into the weekend and next week. More cooling demand is being added to forecasts, Dennis Kissler of BOK Financial says in a note. "Still with latest drop in LNG demand and current storage at a 6.2% premium to the five-year average, traders remain in a sell-the-rally mentality," he says. Nymex natural gas is off 0.5% at $3.152/mmBtu.(anthony.harrup@wsj.com)
0936 ET - Macy's finance chief says he expects higher fuel costs to be a headwind for the remainder of the year. But they will be offset by lower tariffs. He also says the company is managing its inventory better. New artificial intelligence tools are helping Macy's better forecast demand and replenish goods faster.(Suzanne. Kapner@wsj.com)
0907 ET - Oil futures are rising for a third session after further exchanges of fire between the U.S. Iran, sowing more doubt about the likelihood of an agreement being reached soon to reopen the Strait of Hormuz. The latest round of attacks adds risk premium and renders the ceasefire "almost irrelevant," Ritterbusch & Associates says in a note. Prospects remain for high prices throughout the summer, "especially given Trump's latest comments that the U.S. blockade of the Strait of Hormuz could continue to Labor Day," the firm adds. WTI is up 2.5% at $96.13 a barrel and Brent is up 2.3% at $98.19.(anthony.harrup@wsj.com)
0843 ET - Treasurys sell off, sending yields higher, as the Middle East conflict escalates and the U.S. job market strengthens. ADP says private employers added 122,000 in May, beating WSJ consensus of 110,000, with broad-based hiring. Jobless claims tomorrow are expected to be steady and payrolls Friday are forecast to slow down. U.S. and Iran keep trading blows, sparking an oil rally. The WSJ Dollar Index rises 0.1%, extending a pattern of yields and the greenback following oil prices. The 10-year yield reaches 4.491%, up from 4.479% before the jobs data. The two-year rises to 4.082% from 4.070%. (paulo.trevisani@wsj.com; @ptrevisani)
0815 ET - Supply of new green bonds is rising in the euro credit market, supported by strong demand for the asset class, Societe Generale's Juan Valencia says in a note. Green bond issuance could hit a new record level in 2026 as investments in alternative energy sources rise due to the ongoing energy supply disruptions, Valencia says. Credit investors favor higher-rated green bonds over lower-rated green bonds, he says. (miriam.mukuru@wsj.com)
0714 ET - Bitcoin remains under pressure following an exchange of fire between the U.S. and Iranian forces. The U.S. and Iran traded strikes Tuesday after the U.S. disabled an empty oil tanker they said was attempting to breach their blockade. Continued outflows in bitcoin exchange traded funds are also weighing on the cryptocurrency along with Bitcoin treasury company Strategy announcing its first sale of bitcoin since 2022 on Monday, Saxo Bank analysts say in a note. Moreover, markets have brought forward expectations for an interest rate rise by the Federal Reserve with a move nearly fully priced by January compared to March previously, LSEG data show. Bitcoin falls 0.5% to $67,135 after reaching a two-month low of $65,394 earlier, according to LSEG. (renae.dyer@wsj.com)
0626 ET - Crude palm oil rose after trading resumed from recent public holidays buoyed by strong crude oil and soybean oil prices, according to David Ng, a trader at Kuala Lumpur-based Iceberg X. Expectation of weaker output in the coming weeks is also keeping markets on a positive sentiment, he says. Ng sees prices of crude palm oil supported above 4,500 ringgit a ton and face resistance at 4,750 ringgit a ton. The Bursa Malaysia Derivatives contract for August delivery rose 140 ringgit to 4,675 ringgit a ton. (tracy.qu@wsj.com)
0608 ET - Gold's outlook remains positive despite some near-term volatility, according to Julius Baer's Carsten Menke in a research note. Gold has become the number one asset in central banks reserves, thanks to a relentless rise in prices and continued buying from emerging market central banks, the head of next generation research says. "We still see central-bank buying as the strongest structural force in the gold market and expect Western-world investment demand to pick up again," he says. The fundamental backdrop remains favorable although gold's volatility is set to stay elevated as long as the Iran war lasts, he says. Spot gold is down 0.9% at $4,447.39/oz. (tracy.qu@wsj.com)
0552 ET - U.S. Treasury yields and the dollar rise following renewed tensions in the Middle East and resilient U.S. economic data. "The lack of progress in U.S.-Iran negotiations, combined with fresh military exchanges across the region, continued to underpin safe-haven flows," DHF Capital S.A's Bas Kooijman says in a note. The ongoing tensions have kept energy prices elevated, sustaining concerns that inflationary pressures could persist for longer than previously expected, the CEO and asset manager says. The 10-year Treasury yield rises 3 basis points to 4.483%, according to Tradeweb. The DXY dollar index increases 0.1% to 99.342. (emese.bartha@wsj.com)
0542 ET - The cost of insuring euro-denominated credit against default climbs following renewed attacks in the Middle East. Overnight, the U.S. attacked Iranian sites while Iran fired missiles toward Bahrain and Kuwait. The fresh hostilities are weighing on European markets, lowering demand for risky assets. The iTraxx Europe Crossover index of euro high-yield credit default swaps rises 3 basis points to 261bps, S&P Global Market Intelligence data show. (miriam.mukuru@wsj.com)
(END) Dow Jones Newswires
June 03, 2026 10:18 ET (14:18 GMT)
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