The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
1525 ET - 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)
1500 ET - 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)
1437 ET - 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)
1330 ET - 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)
1125 ET - 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)
1125 ET - 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)
1117 ET - 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)
1052 ET - U.S. Energy Secretary Chris Wright says oil flows through the Strait of Hormuz are rising, but declines to offer details on how much is getting through. "I would say rising very meaningfully," he says at an Atlantic Council event. Oil futures are sharply lower after President Trump said a deal to end the conflict could come in two or three days. On Monday Trump said the U.S. blockade would remain until a deal is signed. Wright says a return to normal will take "many months" once the strait is reopened. The conflict with Iran has been "more of a struggle than we would like, but that solution will end with an Iran without nuclear weapons and with free flow of energy."(anthony.harrup@wsj.com)
1049 ET - Recent trade data suggest that Canadian exports have largely recovered back to pre-2025 levels, though there remains some weakness in sectors hit hardest by U.S. tariffs, CIBC Capital Markets' Andrew Grantham says. The economist notes the further gain in export volumes at the start of 2Q, following a solid rise in March, will mean that net trade should be a positive for quarterly GDP and support a rebound in economic activity following two marginal contractions. Still, Grantham says further upward momentum is likely to be limited near-term as the renegotiation of the Northern American trade pact drags on. (robb.stewart@wsj.com; @RobbMStewart)
1046 ET - Another improvement in Canada's net export volumes leaves trade on track to add to real GDP in 2Q, after carving away growth in the first three months of the year, Bank of Montreal's Robert Kavcic says. This in turn should help quiet some of the recession chatter if it holds, alongside the solid early reading indicating April GDP was up 0.4% on-month. The goods-trade surplus widened to C$2.7 billion in April, as exports rose 1.6% to a record high and imports only edged up 0.3%, though also to a record. (robb.stewart@wsj.com; @RobbMStewart)
1036 ET - Deepwater oil reserves estimated at 10 billion recoverable barrels may catapult Brazil into the world's top five producers, Oxford Economics' Felipe Camargo writes. State-controlled Petrobras has earmarked $2.5 billion for projects in the new frontier, Camargo says. Nine other companies were awarded 34 blocks along the northern coastline last year. The impact on Brazil's long-run GDP will likely range between 0.8% and 1.1% per year by 2050, Camargo says. "Although there's a risk that oil won't be found, the fact that the basin borders Guyana's successful Stabroek Block is encouraging," he says. (paulo.trevisani@wsj.com; @ptrevisani)
1030 ET - Canada is selling more to the world, with exports in April hitting a record C$2.7 billion. However, Sibley Creek economist Jay Zhao-Murray notes the rise in exports was driven by sales to the U.S., going against Prime Minister Mark Carney's aim of diversifying trade. Goods shipments to the U.S. were up by C$2.4 billion, while exports to the second-largest export growth destination China increased by C$521 million. "The U.S. is a behemoth; Canada's second- and third-largest trade partners don't even come close," the economist says. (robb.stewart@wsj.com; @RobbMStewart)
(END) Dow Jones Newswires
June 09, 2026 15:25 ET (19:25 GMT)
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