The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
0954 GMT - Global air passenger demand fell 2.2% in May due to the war in the Middle East, the International Air Transport Association says. Demand was lead by Africa, and Latin America and Caribbean, where numbers grew 6.6% and 6.1% respectively as measured in revenue passenger kilometers. However, Middle East passenger demand fell 28.4% in the month but improved compared with April's 46.6% drop. Demand in Asia-Pacific was down 1.4%, but up 2.7% in Europe, the industry body says. "While the recent sharp drop in oil prices is an encouraging development, the challenges created by the war will likely persist for some time," IATA's Director General Willie Walsh says. (ian.walker@wsj.com)
0858 GMT - Eurozone inflation is set to remain "significantly above" the European Central Bank's 2% target, Bundesbank President Joachim Nagel says. "I think the energy price shock that started with that conflict in the Middle East is not over," he told CNBC in an interview on the sidelines of the ECB's forum in Sintra, Portugal. The bank's move to hike its key interest rate this month was "the right decision" given that the bank forecasts inflation to only return to target in 2028, he says. The fall in oil prices after the U.S.-Iran ceasefire agreement earlier this month was a surprise, though the inflation picture remains "very opaque". It remains too early to make a call about when the next rate move would be, Nagel said. (edward.frankl@wsj.com)
0726 GMT - Maersk's improved guidance stems from higher shipping rates driven by the Middle East conflict and fuel surcharges, but strong cargo demand has also helped, with freight rates rising even as fuel prices fell, Bernstein says in a note. The U.S. brokerage isn't clear whether demand reflects genuine economic growth or if companies are pulling orders forward to sidestep upcoming tariffs and surcharges. The Danish shipping group's upgraded volume growth outlook suggests a mix of both, analyst Alex Irving says. The long-term threat of oversupply looms over the industry, and some shipping lines continue to order massive new vessels, which could hurt future profitability. Shares open 3.7% higher at 16,470 kroner. (sarah.sloat@wsj.com)
0720 GMT - The U.K. economy grew by 0.6% in the first quarter of 2026, data confirmed Tuesday, indicating solid momentum at the start of the year, Quilter Cheviot's Jonathan Raymond says in a note. However, GDP growth could be set to slow due to geopolitical tensions in the Middle East, as well as domestic political uncertainty, Raymond says. "The first quarter may prove to be a peak for growth rather than the start of a sustained recovery," he says. (miriam.mukuru@wsj.com)
0719 GMT - European indexes are all in the green at the open as technology and industrial stocks surge. The Stoxx 600 rises 0.6%. Germany's industrial heavy DAX gains 0.9%, led by Siemens Energy. The gas turbine-maker gains 4.6%. In Paris, the CAC 40 is up 0.4% despite weakness in luxury names, as industrials rally. Schneider Electric rises 2.3%. London's FTSE 100 is 0.3% higher as miners gain after selling sharply in recent sessions on lower precious-metals prices. Antofagasta is up 2.3%. The Dutch AEX rises 0.7% on strong gains for AI-linked stocks, including a 3.3% surge for ASML. The Spanish IBEX 35 gains 0.2%, while the Italian FTSE MIB rises 0.6%. (josephmichael.stonor@wsj.com)
0659 GMT - Oil prices could stay higher than prewar levels as energy firms and governments rebuild their inventories, European Central Bank Chief Economist Philip Lane says. Brent crude prices have fallen back to prewar levels in the last week. But demand for oil for restocking purposes could keep the oil price elevated and push inflation higher, Lane told Bloomberg on the sidelines of the ECB's forum at Sintra, Portugal. "From our point of view, it's very welcome that we see this decline in the price of oil. But in terms of the overall inflation impulse, the fact that we do have, maybe for a couple of years, oil prices above the prewar level, that essentially is a cost increasing impulse to the economy," he says. (edward.frankl@wsj.com)
0639 GMT - Iwatani's earnings are likely to benefit from higher prices of liquefied petroleum gas in the near term, Jefferies says in a note. Tensions in the Middle East are providing a tailwind for LPG prices, the U.S. bank says. Lower helium output from the Middle East is also a positive for the company as it improves supply and demand in Southeast Asia. For material upside to the stock, Iwatani should address its weak shareholder return policy and demonstrate that its investments in hydrogen are paying off, Jefferies says. The bank maintains a hold rating on the stock and raises its target price to 2,000 yen from Y1,800. Shares closed 0.2% higher at Y1,899. (kosaku.narioka@wsj.com; @kosakunarioka)
0638 GMT - Oil prices fall as investors weigh the prospect of a U.S.-Iran summit in Qatar after days of back-and-forth fighting around the Strait of Hormuz. In early European trading, Brent crude falls 1% to $73.20 a barrel, while WTI futures are down 1.2% to $69.91 a barrel. Although crude prices have returned to preconflict levels, underlying pressures in the oil market remain. "We believe the market has overshot to the downside," ING's Warren Patterson says. "Our assumption is that flows will only get close to prewar levels towards the end of the third quarter, while current price levels imply a return to normal by the end of July." While President Trump said the U.S. and Iran would hold fresh talks in Doha on Tuesday, Iran's deputy foreign minister said Tehran hadn't decided on the timing of the discussions. (giulia.petroni@wsj.com)
(END) Dow Jones Newswires
June 30, 2026 05:55 ET (09:55 GMT)
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