The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
0240 GMT - Delays to thermal-coal deliveries from Indonesia are heightening concerns about supply disruption, says Commonwealth Bank of Australia's John Oh. Indonesia accounts for nearly half of internationally traded thermal-coal supply and recently announced plans to centralize exports. Newcastle coal futures have jumped above $150 a metric ton, up 16% on month and their highest since the start of the Middle East conflict, Oh says. With delays in Indonesian supply, Oh is closely monitoring demand signals. "The key watch point remains the ongoing Middle East conflict and impact to LNG markets," he says. A resumption of LNG exports through the Strait of Hormuz could soften coal prices, says Oh. Although, Europe's gas stocking demand will likely be a key support for both LNG and coal prices in the coming months, he adds. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
2337 GMT - Oil edges higher in early trade amid ongoing supply disruption concerns. While Iran and Israel signaled they would refrain from further escalation in hostilities, Yemen's Houthis announced there would be a complete ban on Israeli shipping in the Red Sea, ANZ Research analysts say in a research report. This "raises risk around one of the key alternative routes for Saudi Arabian crude oil to make its way onto the international market," though there's some conjecture over what constitutes an Israeli vessel, the analysts add. Front-month WTI crude oil futures are 0.1% higher at $91.40 a barrel. (ronnie.harui@wsj.com)
2325 GMT - A "state-linked export desk" for Australian iron ore and other commodities could give miners a way to tackle concentrated buying by governments in markets where Australia is a major supplier, Morgan Stanley says. The bank acknowledges such a move would also create trade and sovereign risk concerns. But Australian miners currently "have limited scope to coordinate directly, and cannot agree on pricing, terms, allocation, production, or marketing strategy without creating competition law risk," MS says. Meanwhile, a "new sovereign demand/supply trend seems to be gathering pace." MS highlights China's central buying agency and now Indonesia's effort to centralize commodity exports. Globally, Australia represents about 59% of seaborne iron ore exports. It also accounts for 38% of metallurgical coal exports, 20% of thermal coal exports and 24% of total lithium supply, MS says. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
1922 GMT - Oil futures rise for the first time in three sessions after Israel and Iran exchanged strikes over the weekend before saying they will hold off further attacks. The first direct strikes between Israel and Iran since the April ceasefire raised concerns of wider escalation, although "cooler heads appear to be prevailing to start the week," Arlan Suderman of StoneX says in a note. Houthi threats against Israeli shipping in the Red Sea add risk, he says. "With global commodity trade already facing notable logistical snares due to the ongoing closure of the Strait of Hormuz, a resumption in Houthi attacks in the Red Sea would add yet another layer of complexity." WTI settles up 0.8% at $91.30 a barrel and Brent rises 1.2% to $94.25. (anthony.harrup@wsj.com)
1901 GMT - U.S. natural gas futures settle lower as weather forecasts shed some heat for the second half of June and LNG exports are held back by maintenance. Near-term hot weather is seen supportive of prices. "The first meaningful heat of the season is expected later this week, which should drive the strongest power generation demand of 2026 so far," Andy Huenefeld of Pinebrook Energy Advisors says in a note. Pinebrook keeps its 1-3 month bullish outlook, "with the caveat that the market likely needs sustained heat or stronger LNG demand to extend the rally," he adds. Nymex natural gas settles down 2.5% at $3.147/mmBtu.(anthony.harrup@wsj.com)
1852 GMT - There won't be a sustained rally in the Canadian dollar until officials in Ottawa and Washington strike a trade accord, say economists Stéfane Marion and Kyle Dahms at National Bank of Canada. CAD has been the weakest reserve currency in recent weeks, they say, due to a big negative surprise on GDP, widening US-Canada 2-year spreads, and a declining gold price. The NBC economists say in the current market configuration, the price of gold is more relevant to CAD than the price of crude oil, and that bullion is now more than 17% below a recent peak. The economists have a year-end forecast for USDCAD of C$1.35, from its current C$1.395 level. (paul.vieira@wsj.com; @paulvieira)
1817 GMT - Oil futures give up more of their overnight gains after Iran and Israel say they will hold off further attacks following exchanges of strikes over the weekend. Risk premium remains high as the Strait of Hormuz is still largely closed with the high-demand summer season approaching. "We have demand picking up in the northern hemisphere globally and so far we're not really seeing much dent in demand," says Tracy Shuchart of NinjaTrader Group. Adding risk are threats against Israeli shipping in the Red Sea by Yemen's Iran-backed Houthis. That would exacerbate the problem as flows are being diverted through that route from the Strait of Hormuz, Shuchart adds. WTI is up 0.5% at $91.01 a barrel and Brent is up 1.2% at $94.22. (anthony.harrup@wsj.com)
1551 GMT - Badger Infrastructure Solutions' latest results show a company steadily rebuilding credibility after a softer 4Q, says Frederic Bastien of Raymond James, who raises the target price on the stock to C$98 from C$77. "We see this improving performance as proof that Badger's manufacturing and commercial strategies are delivering intended results," the analyst says, pointing to new truck builds ramping up on the back of higher demand in 1Q. Additionally, Bastien says efficiencies at the Red Deer Plant, driven by a sharpened focus on "building hydrovacs right the first time," are helping offset tariff and inflation pressures, while new branch openings in core U.S. markets are strengthening service for major customers. Shares rise 6.5% to C$94.41. (adriano.marchese@wsj.com)
1445 GMT - Canada says it will make financing available to the country's air carriers to deal with higher airline fuel stemming from the conflict in the Middle East. Finance Minister François-Philippe Champagne says under a new loan program, Canadian airlines facing "significant financial pressures" from higher fuel prices could access up to C$150 million in financing to alleviate the balance-sheet squeeze. This is the latest effort by Canada to soften the blow from higher energy costs. In April, Canada waived vehicle-fuel taxes on a temporary basis, until Labor Day. (Paul.Vieira@wsj.com; @paulvieira)
1334 GMT - - U.A.E. and Qatar stocks close lower after the first exchange of fire between Iran and Israel since an April ceasefire and as Yemen's Houthi rebels threaten to block Israeli shipping in the Red Sea. The renewed escalation and disruption to regional trade flows are weighing on investor sentiment, says Chiro Ghosh of Bahrain-based SICO Bank. Qatar's QE index falls 2%, Abu Dhabi's benchmark index drops 1.4% and Dubai's DFM General Index declines 0.6%, while Saudi Arabia's main index ends up 0.4%. (farhan.rafid@wsj.com)
1321 GMT - U.S. natural gas futures lose ground on lower temperature forecasts for the second half of June and higher production. The July contract "ran into a bearish weekend trifecta of milder weather forecasts, weak LNG and rising supply," Eli Rubin of EBW Analytics says in a note. Speculators pared back short positions in the week ended June 2, while adding to long positions, he notes. "While a short-term top may be in near $3.39/mmBtu, unexpected bullish catalysts could trigger a run higher and threaten a wider short-covering event." Nymex natural gas is down 2.8% at $3.139/mmBtu.(anthony.harrup@wsj.com)
1255 GMT - Oil futures pull back from highs after President Trump urges Israel and Iran to stop their strikes and Iran says it has ended its retaliatory attacks on Israel. The renewed outbreak of fighting between Iran and Israel sent prices soaring overnight on concerns that it could derail efforts to bring the Middle East conflict to an end. Trump posted that peace negotiations are proceeding, and said the blockade of the Strait of Hormuz will remain in effect until a "Final Deal" is reached. WTI is up 1.4% at $91.78 a barrel and Brent is 1.8% higher at $94.73. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
June 08, 2026 22:40 ET (02:40 GMT)
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