The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
1123 ET - Gasoline consumption in Canada reached a record high in the first quarter, Desrosiers Automotive Consultants says. It finds there was 10.33 million cubic meters of domestic consumption, a 4.2% increase compared with the same period last year. Desrosiers managing partner Andrew King notes gas consumption was high at the start of the year, then prices spiked dramatically in March due to the conflict between the U.S. and Iran. "We will be tracking if this may work to dampen demand in the second quarter." (robb.stewart@wsj.com)
1112 ET - The greenhouse-gas intensity of Canada's oil sands production continues to fall. Analysis by S&P Global Energy finds greenhouse gas, or GHG, intensity has declined for a 13th straight year, and since 2009 has dropped each year but one, in 2012. GHG intensity of oil sands production fell 2% to 59 kilograms of carbon dioxide equivalent per barrel in 2025, and since 2009 it on average has fallen by 31%. The study says improvements in mining operations led gains, stemming from improved fleet optimization, better waste-heat integration, improved predictive maintenance and shorter maintenance turnaround periods. Still, absolute emissions from oil sands are still rising, albeit at a slower rate, climbing 2% between 2024-2025 as production increased. (robb.stewart@wsj.com)
1048 ET - Gulf stocks mostly fall as weaker oil prices weigh on regional sentiment, says Aqib E. Mehboob, head of research at Saudi-based BSF Capital. Dollar strength is also affecting markets through global risk appetite, foreign flows and funding conditions, he says. Oil prices are tumbling on signs that traffic through the Strait of Hormuz is recovering. Qatar's QE Index falls 0.8%, while Saudi Arabia's Tadawul All Share Index and Abu Dhabi's benchmark index each lose 0.3%. The Dubai Financial Market General Index rises 0.1%. (farhan.rafid@wsj.com)
0957 ET - U.S. natural gas futures inch higher as they continue to trade in a fairly tight range. Spot prices at Henry Hub have averaged $3.11/mmBtu so far in June, providing support for the Nymex front month at the bottom of the recent range, Eli Rubin of EBW Analytics says in a note. Higher temperatures going into July and an expected increase in LNG exports could offer demand-side support, he says. Challenges to "the bullish narrative" include recovering production and the end of pipeline maintenance making more supply available at Henry Hub, he adds. Nymex natural gas is up 0.5% at $3.162/mmBtu. (anthony.harrup@wsj.com)
0918 ET - Crude futures are trading at their lowest level since the start of the war as more ships carry oil through the Strait of Hormuz under the U.S.-Iran agreement. President Trump said on Truth Social that Iran told the U.S. that it wasn't seeking or collecting tolls, insurance costs and or any other charges from ships sailing through the Strait. A combination of rising supply and loss of demand could push crude even lower, while U.S. dollar strength compounds the pressure, says Nikos Tzabouras of Tradu. "That said, the market is still headed for a deficit this year and toll-free passage through the Strait of Hormuz is far from guaranteed." WTI is down 2.9% at $71.08 a barrel, and most active Brent is off 2.8% at $74.64. (anthony.harrup@wsj.com)
0904 ET - Yields on U.K. government bonds, or gilts, could fall further as concerns about inflation ease given the drop in oil prices, Capital Economics' James Reilly says in a note. Oil prices have dropped notably in recent weeks, calming fears about the risk of high energy prices pushing up inflation. U.K. investors are expected to lower their expectations of the Bank of England raising interest rates, enabling gilt yields to decline further, Reilly says. Ten-year gilt yields could fall to 4.25% by the end of 2027, he says. Nonetheless, long-term yields could stay elevated due to lingering political risks, Reilly says. Yields on ten-year gilts fall more than 5 basis points to a 2.5-month low of4.696%, Tradeweb data show. (miriam.mukuru@wsj.com)
0856 ET - Oil prices extend losses after President Trump said Iran told the U.S. that it wasn't seeking or collecting tolls from ships sailing through the Strait of Hormuz. In afternoon European trade, Brent crude slides 2.8% to $74.62 a barrel, while WTI futures fall 3% to $71.06 a barrel. "No tolls, no insurance costs, & no other charges of any kind being sought or received by Iran on ships traveling the Strait of Hormuz," Trump said in a social-media post on Wednesday. The comment comes as traders grow increasingly optimistic that flows through Hormuz will gradually normalize and supply from major Gulf producers will recover soon. (giulia.petroni@wsj.com)
0606 ET - Veolia Environnement's water technology division, where activity has been subdued partly due to the impact of conflict in the Middle East, is cause for concern, Deutsche Bank analyst Olly Jeffery says in a research note. Also, temporary delays in fuel surcharge recovery may weigh on results, although foreign-exchange movements are expected to be less of a headwind than in the previous quarter, Jeffery says. While the French utility company is expected to deliver stronger Ebitda growth in the first half of the year, performance is likely to remain at the lower end of its guidance range, the analyst says. Jeffery expects the company to reaffirm its full-year outlook with its results on July 30. Shares trade 1.2% lower at 35.59 euros. (nina.kienle@wsj.com)
0556 ET - Contemporary Amperex Technology's capacity is likely to reach 1.25 terawatt-hours by the end of 2026 and rise further to 1.75 TWh in 2027, Daiwa analysts write in a note. The brokerage sees potential for faster-than-expected expansion over the next two years. It also thinks CATL will reach its target of tripling capacity within five years, which will support growth and market-share gains. The company's sodium-ion battery technology is well-suited for AI data-center energy-storage systems, potentially opening a new growth market beyond electric vehicles. Daiwa maintains a buy rating on the stock and raises its target price to 600 yuan from 550 yuan. Shares close at 395.36 yuan. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
0354 ET - Crude oil transits through the Strait of Hormuz have recovered to roughly one-third of their normal level so far in June, with confirmed flows reaching around 4.8 million barrels a day following the U.S.-Iran memorandum of understanding, Kpler's Yui Torikata says. The recovery has been driven by a combination of resumed Iranian exports, the release of non-Iranian cargoes stranded inside the Gulf for more than three months, and continued movements by vessels operating without active tracking signals, according to the analyst. Iranian tankers have increasingly resumed broadcasting their locations during voyages, signaling a gradual return to more transparent trading activity. Meanwhile, about 35 million barrels of oil on non-Iranian vessels stranded inside Hormuz exited the waterway since June 18. However, shipping conditions have yet to fully normalize, with a substantial volume of non-Iranian cargoes still transiting the waterway in the dark despite easing tensions, Torikata says. (giulia.petroni@wsj.com)
0333 ET - Eurozone government bond yields edge lower, helped by falling oil prices and ahead of Germany's Ifo business sentiment indicator. The Ifo data will follow Tuesday's weak provisional German purchasing managers' surveys for June. Moves are limited, however, due to lingering inflation fears and the fact that a further interest-rate hike by the European Central Bank remains possible. On Wednesday, supply will come from Italy and Germany. The 10-year Bund yield falls 0.6 basis points to 2.906%, according to Tradeweb. (emese.bartha@wsj.com)
0327 ET - Oil prices fall on signs that shipping activity through the Strait of Hormuz is gradually resuming, with international authorities reporting improved safety conditions. "Although negotiations remain complex and questions persist over the future governance of Hormuz, the market is increasingly pricing in a gradual normalization of Middle East energy flows," analysts at MUFG say. Sentiment has also been supported by the U.S. sanction waiver on Iranian oil sales, which has strengthened expectations of a meaningful increase in regional crude supply. In early European trading, Brent crude is down 1.1% to $75.93 a barrel, while WTI futures fall 1.3% to $72.31 a barrel. (giulia.petroni@wsj.com)
(END) Dow Jones Newswires
June 24, 2026 11:23 ET (15:23 GMT)
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