The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
0205 GMT - Top Glove's fiscal 3Q net profit could rise sharply on margin expansion from lower-cost pre-war inventory, cheaper nitrile latex supplies and higher average selling prices, Maybank IB analyst Wong Wei Sum says in a note. She tips 3Q net profit at 60 million ringgit to 80 million ringgit, roughly double the amount from 2Q. However, she expects the earnings windfall to be short-lived, as glove prices ease and energy costs rise. Maybank downgrades its rating for Top Glove to sell from hold, as current valuations appear to price in peak earnings and view any post-results share price strength as a profit-taking opportunity. It raises its target price to 0.65 ringgit from 0.62 ringgit. Shares are 1.2% higher at 0.84 ringgit. (yingxian.wong@wsj.com)
0024 GMT - LS Electric is forecast to post record quarterly contract wins of about around 2 trillion won in 2Q, Daiwa Capital's Mike Oh and Daeho Son say. The South Korean electrical-equipment supplier is likely to have benefited from strong demand from U.S. data centers and increased capital expenditure by Korean conglomerates, including Samsung information-technology affiliates, the analysts write in a note. They expect LS Electric to lift its 2026 new-order guidance to 5 trillion won-6 trillion won from 4 trillion won. Daiwa raises its 2026-2027 earnings-per-share estimates for the company by 17%-18%, citing likely lucrative U.S. orders. (kwanwoo.jun@wsj.com)
2335 GMT - Oil rises on escalating supply disruption concerns caused by the exchange of attacks between the U.S. and Iran. The U.S. launched strikes on Iran Tuesday in retaliation for the downing of a U.S. Apache helicopter near the Strait of Hormuz. The aircraft was struck by an Iranian Shahed drone off the coast of Oman while it was patrolling the area, multiple U.S. officials said. "Any renewed disruption could quickly bring upward pressure back into the market," says Zaheer Anwari, co-founder and CEO at The Revacy Fund, in an email. Front-month WTI crude oil futures are 1.1% higher at $89.17 a barrel. (ronnie.harui@wsj.com)
1936 GMT - Live cattle futures on the CME settle up 1.3% to $2.397 a pound -- rising as crude oil futures fell and New World screwworm dominates discourse in the livestock sector. Throughout the course of the conflict in Middle East, live cattle has had an inverse relationship with crude oil -- based on the logic that energy-based inflation coming from higher prices for fuel will mean that consumers have less funds available to spend on high-cost proteins like beef. This relationship appears to have held true today, but is weighted by unforeseen reactions to the parasite's spread from U.S. trade partners, said the American Farm Bureau in a note. Lean hogs close down 1.2% to 96.175 cents a pound. (kirk.maltais@wsj.com)
1932 GMT - Barclays maintains its 2026 price estimate for Brent at $100 a barrel, and sees the benchmark crude averaging $88 a barrel in 2027 "assuming freedom of navigation through the Strait of Hormuz is restored by the end of this month."The fragile ceasefire is largely holding despite some contained flare-ups, and there are signs of progress in talks to end the war, "but we are not there yet," Amarpreet Singh says in a note. If the reopening of the strait is extended to the end of July, Barclays sees Brent at $105 a barrel this year and $95 in 2027, and if it stays blocked through the end of August, then the price estimates rise to $110 and $105, respectively.(anthony.harrup@wsj.com)
1925 GMT - U.S. natural gas futures end little changed as the market weighs strong demand this week against a cooler weather outlook for the second half of June. "Even with fundamentals trending modestly tighter, price action suggests traders remain focused on the prospect of moderating temperatures later in June and the market's ability to maintain strong production levels," Gelber & Associates says in a note. "Henry Hub may continue to find itself trading within its recent range despite supportive summer demand signals." Nymex natural gas settles down 0.2% at $3.140/mmBtu.(anthony.harrup@wsj.com)
1900 GMT - Oil futures end the session lower in a choppy session with the market keeping alive hopes for a deal to end the Middle East conflict and reopen the Strait of Hormuz soon. President Trump's post saying the U.S. will respond to Iran's shooting down an Apache helicopter sent prices spiking briefly into the black. Iran's foreign minister posted on X that foreign forces close to Iran's territory are at risk on account of "their own human errors," accidents, or potentially being caught in crossfire. "We prefer the language of diplomacy but speak other languages too," he wrote. WTI settles down3.4% at $88.20 a barrel and Brent falls 3% to $91.45. (anthony.harrup@wsj.com)
1837 GMT - The share of Canadian exports bound for the U.S. is gradually trending lower. The proportion averaged 76% in 2024 and 72% in 2025, and comes in at 69% in April 2026, Scotiabank's Mitch Villeneuve and John Fanjoy say. This has been driven in recent months by a decline in exports to the U.S. and increasing exports to other regions, mainly Europe, the pair note. In April, exports to the U.S. rose 4.8% on-month while exports to other countries dropped 4.8% from a record in March. On the import side, the share of Canadian imports coming from the U.S. has gradually fallen to 59% in April from an average of 62% in 2024. (robb.stewart@wsj.com; @RobbMStewart)
1730 GMT - Oil futures spiked briefly after President Trump said the U.S. must respond to Iran's shooting down of a U.S. Apache helicopter near the Strait of Hormuz, before resuming their decline. Prices are lower on Trump's assertions that the U.S. and Iran are within days of a reaching deal to end the conflict. Energy Secretary Chris Wright said earlier that oil flows through the strait are rising "meaningfully" without giving details. WTI is off 4.4% at $87.29 a barrel andBrent is down 3.6% at $90.84. "Prices could potentially fall into the low-to-mid $80 range as speculators exit their positions," says Peter Cardillo of Spartan Capital. (anthony.harrup@wsj.com)
1525 GMT - Crude futures extend losses in afternoon trading as investors await clarity on U.S.-Iran developments. "The price of Brent crude remained below the $100 per barrel mark," analysts at Commerzbank say. "One explanation for this is certainly that a majority of market participants still believe the conflict will be resolved soon." The oil market has also partly adjusted to supply disruptions due to pipeline rerouting from major producers in the Gulf, increased exports from the U.S. and weaker oil demand in Asia, according to analysts. Brent crude is down 3.5% to $90.92 a barrel, while WTI falls 4.1% to $87.57 a barrel. (giulia.petroni@wsj.com)
1525 GMT - Energy Secretary Chris Wright says the U.S.'s emergency releases of oil from the Strategic Petroleum Reserve, along with those of other countries, are among reasons oil price increases have been relatively contained despite disruptions in the Middle East. The Department of Energy had released about 66 million barrels of the planned 172 million barrels as of June 5. The releases address interruptions of crude flows and aren't aimed at managing prices, Wright says at an Atlantic Council event. "And by the way, we've not sold a single barrel. We swap barrels. We deliver oil today in exchange for more barrels later than we're swapping." The transactions have added 35 million barrels to the SPR, which will have more oil at the end than there was going into the crisis, he adds.(anthony.harrup@wsj.com)
1517 GMT - Global oil supply normalization is now expected to extend into January 2027 under Rystad Energy's base-case scenario, despite assumptions of a framework U.S.-Iran agreement in June that would enable a phased reopening of the Strait of Hormuz from mid-July. "Tanker repositioning is the first bottleneck," says Rystad Energy's Aditya Saraswat. As a result, upstream production is projected to lag the Strait's reopening by two to three weeks, allowing only 10%-15% of volumes to return in July. A stronger recovery is forecast for August and September, lifting regional supply to about 17.3 million barrels a day and 20.9 million barrels a day, respectively. Roughly 85% of lost output should be restored by October, while full normalization is delayed by slower recoveries at mature Iraqi and Kuwaiti fields. "Cumulative supply losses are on track to reach nearly 2 billion barrels by year-end, even under this relatively constructive scenario," Saraswat says. (giulia.petroni@wsj.com)
(END) Dow Jones Newswires
June 09, 2026 22:05 ET (02:05 GMT)
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