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.
1101 ET - Geopolitical conflicts and the AI boom are driving up demand for energy supply, benefiting companies in the electricity supply chain, BlackRock Investment Institute say in a note. "Many governments and companies are prioritizing resilience [in energy supply]," they say. Assets such as power equipment, batteries, grids, and critical materials are gaining from the rising electricity demand, BlackRock Investment Institute say in a note. (miriam.mukuru@wsj.com)
0923 ET - Oil futures move higher with the U.S. and Iran expected to resume talks in Qatar following weekend military exchanges. "Although meetings are scheduled to take place as early as today, Iran is less clear as to the timing and scale of such talks," Ritterbusch & Associates says in a note. Significant movement of ships through the Strait of Hormuz could resume following a brief disruption, but "we feel that the resumption of military activities so soon after the Memorandum of Understanding will be demanding a much larger risk premium than currently exists." WTI is up 0.7% at $71.24 a barrel, and most active Brent gains 0.8% to $74.49. (anthony.harrup@wsj.com)
0239 ET - 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)
2331 ET - 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)
1530 ET - 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)
1414 ET - 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)
1410 ET - 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)
(END) Dow Jones Newswires
June 30, 2026 12:20 ET (16:20 GMT)
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