The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
1458 ET - U.S. natural gas futures hand back some gains from the previous three sessions, while maintaining seasonal support from warming weather and recovering LNG exports. "The fundamental setup is becoming more constructive, even without a major heat wave in the forecast," Andy Huenefeld of Pinebrook Energy Advisors says in a note. Power-sector demand "should increase seasonally from here as normal temperatures rise into June," he adds.Nymex natural gas settles down 3.4% at $3.179/mmBtu. (anthony.harrup@wsj.com)
1353 ET [Dow Jones]--Oil futures pull back from highs as President Trump says Israel and Iran-backed Hezbollah have agreed to stop fighting and that Israel won't be sending troops to Beirut. Trump says he spoke with Israeli Prime Minister Benjamin Netanyahu and to Hezbollah through representatives. "Israel will not attack them, and they will not attack Israel," he posts on Truth Social. Oil prices spiked after Iranian media said Iran was halting talks to protest Israeli attacks in Lebanon. "Talks are continuing, at a rapid pace, with the Islamic Republic of Iran," Trump adds in a separate post. WTI is up 4.9% at $91.64 a barrel after hitting $94.78 earlier. Brent is up 4% at $94.78. (anthony.harrup@wsj.com)
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)
1008 ET - Treasury yields and the dollar jump higher as Iran is reported to be stopping talks to reopen the Strait of Hormuz following Israeli attacks on Lebanon against Hezbollah. Oil futures rise 7% on dwindling hopes of normalized supply lines. The WSJ Dollar Index rises 0.4%, after hovering around flat earlier. The greenback strengthens 0.4% against the euro and 0.3% versus the yen. The 10-year yield rises to 4.51% from 4.45% and the two-year is at 4.08, up from 4.03%. (paulo.trevisani@wsj.com; @ptrevisani)
0959 ET - Eurozone government bond and U.K. gilt yields jump on a report that Iran halts talks with the U.S. in protest at Israel attacking Lebanon. Iran's Tasnim news agency says on X that Iran will halt the exchange of talks and messages through the intermediary with the U.S. The 10-year German Bund yield rises 8.3 basis points to 3.012%; the French 10-year OAT yield is up 10 basis points at 3.636%; the 10-year Italian BTP yield jumps 11 basis points to 3.750%; and the 10-year gilt yield is up 8.2 basis points at 4.889%, according to Tradeweb. (emese.bartha@wsj.com)
0958 ET - Bitcoin falls to a seven-week low after Iran's state media reported that the country is halting talks with the U.S. Iran's Tasnim news agency said Iran would cut talks through mediators in protest against Israeli attacks in Lebanon. Bitcoin is also dented by news that Strategy sold the cryptocurrency last week for the second time ever. Strategy sold 32 coins for $2.5 million at an average of $77,135 each between May 26 and May 31, according to a Monday filing. Bitcoin falls to as low as $71,495, LSEG data show.(renae.dyer@wsj.com)
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)
0943 ET - The Iran war looks set to remain a drag on the Japanese yen in coming months, Commerzbank's Volkmar Baur says as the yen falls to a one-month low against the dollar. Prices for fossil fuels could stay elevated, weighing on the Japanese economy's foreign trade balance, he says in a note. Furthermore, interest-rate differentials have moved against the yen as markets bet on the Federal Reserve and European Central Bank raising interest rates. "However, once the Iran conflict is resolved, the outlook for a stronger yen remains favorable," Baur says. The dollar rises to as high as 159.69 yen and Commerzbank expects it to reach 150 by December this year and 143 by December 2027. (renae.dyer@wsj.com)
0934 ET - U.S. natural gas futures pull back from overnight highs while maintaining support from higher temperature forecasts moving into June. "With weather heating up at this early stage of the cooling cycle, the market is forced to conjure up an increased possibility of a hot summer," Ritterbusch & Associates says in a note. The firm sees little resistance up to $3.50/mmBtu. Also slightly bullish is a pickup in natural gas exports while production gains are modest, the firm adds. Nymex natural gas is off 2.4% at $3.211/mmBtu.(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)
0843 ET - An end to the Iran war and reopening of the Strait of Hormuz would allow the euro to recover against the dollar but gains are likely to be limited, Rabobank's Jane Foley says in a note. "While an October rate cut from the Federal Reserve should allow the euro to trend upwards in the second half, we don't expect the [euro versus the dollar] to gain significant upward traction in this period." The market is already well priced for two interest-rate rises by the European Central Bank in this period and eurozone growth headwinds mean the euro could struggle to reach $1.20 this year, she says. The euro falls 0.1% to $1.1646. (renae.dyer@wsj.com)
0758 ET - The dollar appears suspended between optimism and skepticism regarding a possible peace deal between the U.S. and Iran, Rabobank's Jane Foley says in a note. "Since the end of March, investors appear to have traded the market with the view that the worst-case scenario is unlikely to happen." However, the longer the Strait of Hormuz remains closed, the greater the economic damage and optimism for a deal will run dry eventually, she says. The market is growing more impatient for concrete news about a deal, she says. Without an end to the war, the euro versus the dollar will struggle to recover meaningfully, she says. The euro falls 0.1% to $1.1644. The DXY dollar index rises 0.2% to 99.078. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
June 01, 2026 14:58 ET (18:58 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments