The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
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)
0331 GMT - Karoon Energy gets a new bull in Morgans, which asserts that its share price shouldn't be trading around a 12-month low now that it has successfully restarted a key oil-production well in Brazil. Karoon said the SPS-92 well--the largest at its Bauna oil field by output--is back online after a new electrical submersible pump was installed. Morgans upgrades Karoon to buy from hold. "With the path to peace in the Middle East also proving to be more difficult than the market hopes, we could also see some better near-term support for oil prices," analyst Adrian Prendergast says. Karoon is up 5.1% at A$1.445 today. (david.winning@wsj.com; @dwinningWSJ)
1930 GMT - Crude futures pull up from Friday's prewar levels following weekend exchanges between the U.S. and Iran, although tension eased with the planned resumption of talks. "The risk premium in oil has come down quite a bit," says Tortoise Capital senior portfolio manager Rob Thummel. While conditions are subject to change any time, the market is currently perceiving that flows through the Strait of Hormuz will continue for an extended period, he adds. Even when flows normalize, prices are likely to see support as depleted reserves need replenishing. "We'll need to have an oversupply in the oil market just to build back inventories, for a while," Thummel adds. WTI settles up 2.2% at $70.75 a barrel and front month Brent rises 1.6% to $73.15 ahead of tomorrow's expiry. (anthony.harrup@wsj.com)
1814 GMT - Oil futures extend gains with the market apprehensive after the U.S. and Iran exchanged strikes over the weekend, although an agreement to resume talks helps contain the rise. "The main concern is that the shipping will lose momentum as insurers pull back from green-lighting a virtual drag race to get as many barrels as possible out of the Gulf and through the Strait of Hormuz," Mizuho's Robert Yawger says in a note. "Traffic in the strait was already operating at reduced levels because of the precarious nature of the routes available to shipping." WTI is up 2.4% at $70.86 a barrel and Brent gains 1.9% to $73.99.(anthony.harrup@wsj.com)
1810 GMT - The recent drop in oil prices will likely provide a boost that hasn't been accounted for in apparel and footwear companies' forecasts, according to Baird in a note. Analysts Jonathan Komp and Alexander Conway say that considering WTI crude was about $95-$110/barrel in late April/early May, they think current prices are well below the levels embedded in most guides. They believe such sizable declines typically boost consumer confidence. This should support upside for apparel and footwear stocks, especially given those companies have pointed to resilient and healthy consumer demand lately as well as solid full-price selling trends, the analysts say. "We see potential for higher consumer sentiment and group valuations ahead," they say, noting particularly good setups for Dick's Sporting Goods, Crocs and Adidas. (kelly.cloonan@wsj.com)
1258 GMT - Oil futures are higher but appear steady as the U.S. and Iran plan to resume talks after exchanging strikes over the weekend. The market is trying to clear crude that was trapped behind the Strait of Hormuz, "hitting the global market just as we had covered crude needs with other sources (e.g. SPR)," Neil Crosby of Sparta Commodities says in a note. But "it is still fairly obvious to us that until more vessels sustainably head into the Strait than come out of it, we won't get anywhere near a normal Arabian Gulf supply chain," he adds. WTI is up 0.9% at $69.88 a barrel and most active Brent gains 0.7% to $73.10.(anthony.harrup@wsj.com)
(END) Dow Jones Newswires
June 30, 2026 04:20 ET (08:20 GMT)
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