The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
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 02:59 ET (06:59 GMT)
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