The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
0915 GMT - The cost of insuring euro credit against default stays steady as possible easing tensions between the U.S. and Iran restore market calm. A U.S. official said technical talks with Iran are continuing, The Wall Street Journal reports, easing concerns about possible escalation in the Middle East conflict. The iTraxx Europe Crossover index of euro high-yield credit default swaps is unchanged at 244 basis points, S&P Global Market Intelligence data show. (miriam.mukuru@wsj.com)
0854 GMT - U.S. gasoline demand has shown unexpected strength despite higher fuel prices and weaker consumer sentiment, the International Energy Agency says. Gasoline consumption rose by an average of 1.5% year over year in March and April, reversing a 12-month trend of declines. The increase came even as pump prices climbed nearly 50% since the start of the conflict. The IEA says preliminary data point to slower growth in May and June, but American drivers accounted for nearly one-third of global gasoline consumption, making U.S. fuel use a key factor in the market. While the agency says that some of the recent increase might reflect consumer stockpiling, demand growth is still expected to return closer to historical trends in 2027. (giulia.petroni@wsj.com)
0812 GMT - Global investors are likely to demand extra compensation for investing in risky assets due to uncertainty surrounding the U.S.-Iran conflict, Capital.com's Daniela Hathorn says in a note. Renewed attacks this week have raised concerns about the risk of a prolonged energy supply shock due to the extended closure of the Strait of Hormuz. "The events of this week have reminded markets that the path to a lasting agreement is unlikely to be straightforward," Hathorn says. (miriam.mukuru@wsj.com)
0811 GMT - Markets are taking a decisively optimistic stance over the U.S.-Iran conflict despite renewed tensions, which is weighing on the dollar, ING's Francesco Pesole says in a note. Investors seem to be clinging on to the fact that technical talks continue, he says. Fading geopolitical risk means continued focus on rate differentials. These have moved against the dollar in some instances, for example where markets have increased bets on another interest-rate rise by the European Central Bank, he says. The recovery in risk sentiment has also prompted a decent rebound in high-yielding emerging market currencies, he says. The DXY dollar index falls 0.1% to 100.799. (renae.dyer@wsj.com)
0757 GMT - Oil is likely to remain supported if the Iran-related risk premium stays active, according to GivTrade analyst Waleed Said in commentary. Recent increases in oil prices were mainly driven by expectations of geopolitical risk, as traders priced in higher shipping risks and rising insurance costs, the analysts say. Investors are closely watching U.S. unemployment claims, which could influence the next move in oil. Traders need to assess whether U.S. demand is strong enough to absorb higher fuel costs, he says. Front-month WTI crude oil futures are 0.1% lower at $71.41 a barrel; front-month Brent crude futures are 0.9% lower at $75.60 a barrel. (tracy.qu@wsj.com)
0731 GMT - Recent military strikes between the U.S. and Iran have boosted expectations for another interest-rate rise by the European Central Bank but the euro has limited scope to benefit, ING's Francesco Pesole says in a note. The re-escalation has prompted a re-tightening in euro-dollar short-term swap differentials. "While all this is injecting new confidence into previously dwindling expectations for a September ECB hike, the path for euro-dollar to come out stronger from this re-escalation is quite narrow." The euro could stabilize versus the dollar Friday as markets wait for more clarity on the situation but there is a risk of it falling back below $1.14, he says. The euro rises 0.1% to $1.1438.(renae.dyer@wsj.com)
0726 GMT - Yields on U.K. government bonds, or gilt, fall as investor concerns ease due to U.S. and Iran continuing talks to end the Middle East conflict. Investors are optimistic given that the two waring parties continue to negotiate, ING's Francesco Pesole says in a note. A U.S. official said technical talks with Iran are continuing despite recent strikes between the two sides, The Wall Street Journal reports. Ten-year gilt yields fall 2.7 basis points to last trade at 4.879%, Tradeweb data show. (miriam.mukuru@wsj.com)
0723 GMT - Sterling rises to a new one-year high against the euro and remains stronger versus the dollar after reaching a near four-week high earlier in Asian trade. Bank of England's chief economist Huw Pill told BBC's Walescast programme Thursday that interest rates will need to rise in response to inflationary pressures. A recent easing in fiscal concerns also continue to support sterling along with reduced fears over a return to a full-blown conflict in the Iran war. The Wall Street Journal reported that technical talks between the two sides continue despite recent strikes. The euro falls 0.1% to as low as 0.8515 pounds, extending its recent losing streak. Sterling reached as high as $1.3451 earlier and last trades up 0.1% at $1.3425. (renae.dyer@wsj.com)
0709 GMT - Oil prices are on track for a weekly gain of around 5% as a flare-up in fighting between the U.S. and Iran has curtailed traffic through the Strait of Hormuz, threatening regional supply once again. Still, in early European trading, crude futures are down slightly. Brent crude, the international oil benchmark, falls 0.2% to $76.18 a barrel, while WTI is down 0.1% to $72.02 a barrel. "With oil prices softening following the midweek spike, traders appear to view the latest tensions as a challenge to the ceasefire rather than a complete breakdown, as Trump's comments earlier in the week briefly led markets to fear," analysts at Saxo Bank say. "Traffic through the Strait of Hormuz remains low, with no large commodity-laden vessels seen transiting." (giulia.petroni@wsj.com)
0706 GMT - Bitcoin rises on improved risk sentiment following an easing of worries over U.S.-Iran tensions. A U.S. official said technical talks with Iran are continuing despite recent strikes between the two sides, The Wall Street Journal reports. Trump and Israeli Prime Minister Benjamin Netanyahu also spoke on Thursday agreeing to continue co-ordination between the two countries, according to the Israeli prime minister's office. Sentiment was already turning more positive late Wednesday after Trump said Iran was desperate for a deal, Deutsche Bank analysts say in a note. Bitcoin rises 0.9% to $63,873, LSEG data show. (renae.dyer@wsj.com)
0653 GMT - Eurozone government bond yields decline in early trading, benefiting from a rally in Japanese government bonds as well as lower oil prices as concerns about Middle East tensions ease slightly. Japanese bond yields fell after Finance Minister Katayama said the government will encourage pension funds to invest more in local financial assets, helping to reverse recent increases in yields. Government bond issuance will come from Italy, while France and Spain will announce details of their respective auctions for next Thursday. The 10-year Bund yield falls 2.2 basis points to 3.035%. Declines in other 10-year eurozone government bond yields are of similar magnitude, according to Tradeweb. (emese.bartha@wsj.com)
0637 GMT - The dollar falls as concerns about a return to full-blown conflict in the Iran war fade, sending oil prices lower and driving investors away from safe-haven assets. A U.S. official said technical talks with Iran are continuing despite recent exchanges of military strikes between the two sides, The Wall Street Journal reports. "Our view remains that we should get a deal near term, but we see it as a fudge rather than an agreement which can ensure long-lasting peace," Jefferies economist Mohit Kumar says in a note. The DXY dollar index falls 0.2% to 100.751. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
July 10, 2026 05:15 ET (09:15 GMT)
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