The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
1521 ET - Oil futures end lower in an indecisive session with the market awaiting clarity on whether the U.S. steps up its strikes on Iran or the sides look to resume talks. "Markets have largely absorbed the geopolitical premium tied to U.S. strikes on Iranian targets and the heightened naval presence around the Strait of Hormuz," Gelber & Associates says in a note. "For now, traders remain focused on incoming headlines, but in the absence of a meaningful escalation or supply disruption, WTI appears content to consolidate just below the key $80 a barrel threshold." WTI settles down 0.8% at $78.95 a barrel and Brent falls 0.8% to $84.23. (anthony.harrup@wsj.com)
1517 ET - U.S. natural gas futures retreat with a slightly below-normal inventory build leaving the storage surplus over the five-year average practically intact at 181 Bcf. The 41 Bcf injection was roughly in line with consensus estimates after storage builds exceeded expectations the preceding three weeks, notes Andy Huenefeld of Pinebrook Energy Advisors. Another wave of major heat across the Midwest and East this week lifting power-sector demand should be reflected in next week's storage report, although "estimates have been highly variable in recent weeks, primarily because of fluctuations in wind generation output," he adds. Nymex natural gas settles down 2.3% at $2.858/mmBtu. (anthony.harrup@wsj.com)
1235 ET - The rebound in oil prices shows the market was underestimating the fragility of the U.S.-Iran ceasefire, and "serves as a reminder that crude prices still warrant a geopolitical risk premium over the coming weeks and months," BCA Research's chief commodity strategist Roukaya Ibrahim says in a report. Even if tensions ease and supply disruptions abate, fundamentals will prevent Brent from breaking below a floor around $70 a barrel, she adds. Weakness in oil consumption is unlikely to persist, and efforts to replenish or even increase strategic reserves should add to demand. "We expect geopolitics and fundamentals to cause oil prices to trade in a wide range over the remainder of the year, with Brent averaging $80 a barrel," Ibrahim says.WTI is up 0.1% at $79.70 a barrel and Brent is up 0.3% at $85.16.(anthony.harrup@wsj.com)
1149 ET - Constellation Energy's venture arm invested an undisclosed amount in Blue Energy, a developer of financeable, prefabricated nuclear power plants. The move marks Constellation Technology Ventures' first investment in a U.S. nuclear developer advancing small modular reactors, Blue Energy says. "This relationship helps us leverage an established operator, proven technology, and innovative, project-financeable deployment models to expand access to nuclear energy," Blue Energy CEO Jake Jurewicz says. Constellation says it is committed to exploring ways that can accelerate the deployment of advanced nuclear technologies in the U.S. (kelly.cloonan@wsj.com)
1118 ET - Oil prices look to be a considerable risk factor for agricultural futures this quarter, including row crops and soft commodities like coffee and sugar, says Hedgepoint Global in a note. "The energy sector is expected to continue exerting strong influence on commodities markets throughout the third quarter," says the firm in its report. "The evolution of global oil inventories, refining margins, and geopolitical tensions will continue to influence… different commodities supply chains, especially those linked to biofuels and logistics costs." Corn and soybeans in the U.S. have been influenced by rule changes to the EPA's Renewable Fuel Standard programs, increasing demand for oils to fulfill blending requirements. CBOT corn falls 1% in morning trade, while soybeans slide 0.2% and wheat is up 0.1%. (kirk.maltais@wsj.com)
1103 ET - U.S. natural gas inventories rose by a little less than usual last week, trimming the storage surplus over the five-year average to 181 Bcf from 185 Bcf the previous week, according to data released by the EIA. Gas in underground storage facilities increased by 41 billion cubic feet to 3,024 Bcf. The injection was smaller than the 45 Bcf five-year average for the week, and below the 44 Bcf estimate in a WSJ survey of analysts. The report does little for Nymex natural gas futures which are off 1.3% at $2.885/mmBtu. (anthony.harrup@wsj.com)
1039 ET - Gold prices briefly drop below $4,000 despite weaker-than-expected U.S. inflation, as a flare-up in tensions between Washington and Tehran raises concerns over high energy prices. New York futures fall 1.2% to $4,002 a troy ounce after slipping to $3,977.10 an ounce earlier. "Persistently high energy prices would make it difficult for the Fed to adopt a more dovish stance," says Fawad Razaqzada from Forex.com. "That is one reason we're seeing the U.S. dollar regain a bit of momentum again today, particularly against currencies whose economies are heavily reliant on imported energy." The U.S. dollar index is up 0.1% to 100.64. (giulia.petroni@wsj.com)
1008 ET - Oil prices are little changed in early U.S. trade, with Brent crude hovering around $85 a barrel and WTI futures at $80 a barrel. "It feels to us that markets are still expecting that the disruption to flows will prove short-lived [...] but the perceived probability of a more extreme outcome has increased," says Neil Shearing from Capital Economics. A key reason prices have not moved significantly higher is that the departure of oil-laden tankers that had been stranded in the Strait of Hormuz for months has provided some near-term relief to supply concerns. Still, inventories cannot continue to absorb supply disruptions at their recent pace indefinitely, the chief economist says. If the strait remains closed for an extended period, oil markets could eventually reach a tipping point, triggering a sharp price spike to $120 a barrel or higher. (giulia.petroni@wsj.com)
1001 ET - U.S. natural gas futures continue to claw back ground after their slide under $3, edging higher for a third session. Market focus is on the EIA's weekly storage report, due at 10:30am ET. Analysts in a WSJ survey expect a 44 Bcf injection, leaving the surplus over the five-year average practically unchanged. The report "has increased significance after three straight bearish readings, although the July 4 holiday raised uncertainty," Eli Rubin of EBW Analytics says in a note. A bullish report relative to consensus estimates "may let August retest $3.00/mmBtu." Nymex natural gas is up 0.4% at $2.935/mmBtu. (anthony.harrup@wsj.com)
0958 ET - Oil futures are higher for a fourth session with the U.S. and Iran continuing strikes and transit through the Strait of Hormuz down to a trickle. The relative calm in energy market volatility comes as participants wait to see whether there's a return to the negotiating table, rounds of broader escalation, or a continued "state of no war and no peace," Samer Hasn of XS.com says in a note. Without a solid agreement including detailed wording on management of the strait and Iran's nuclear program, "the risks of escalation will remain high regardless of market pricing." WTI is up 0.9% at $80.31 a barrel, and Brent is up 1% at $85.76. (anthony.harrup@wsj.com)
0915 ET - The cost of insuring Middle East nations' sovereign debt against default rises as the U.S.-Iran conflict persists. Geopolitical tensions and oil supply disruptions are weighing on investor sentiment. Qatar's five-year sovereign credit default swaps rise 1 basis point to 33bps, S&P Global Market Intelligence data show. Bahrain's five-year CDS climb 6bps to 285bps. (miriam.mukuru@wsj.com)
0707 ET - SSE's business update is a solid statement with strong hydropower output, RBC Capital Markets analyst Alexander Wheeler says in a research note. The U.K energy company continues to deliver on plan with positive news on the installation at offshore wind farm Dogger Bank and a significant ramp-up in networks capital expenditure, Wheeler says. Furthermore, there is potential for further investment opportunity after an update from the U.K.'s power grid operator, the analyst adds. SSE shares trade 2.1% lower at 2,417 pence. (nina.kienle@wsj.com)
(END) Dow Jones Newswires
July 16, 2026 15:21 ET (19:21 GMT)
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