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.
0905 ET - Treasury yields edge lower as the economy remains solid despite lingering geopolitical tension. President Trump raises doubts about the U.S. electoral process in a televised speech Thursday night. Residential construction accelerates more than expected in June, while the import price index cools down. The University of Michigan consumer sentiment index is expected to tick higher to 50.5 from 49.5, in a WSJ survey. Oil futures rise more than 2%. The WSJ Dollar Index climbs 0.1%. The 10-year yield is at 4.533%, down from yesterday's settle of 4.568%. The two-year slips to 4.143% from 4.155%. (paulo.trevisani@wsj.com; @ptrevisani)
0846 ET - Crude futures are higher and on track for hefty weekly gains as the U.S. continues its strikes against Iranian military targets, and Iran fires at sites in other Gulf countries. "We still consider that the escalation in the war between the U.S. and Iran is consistent with our baseline view that the recovery in oil flows would be bumpy and punctuated by flare-ups," Kieran Tompkins of Capital Economics says in a note. "That said, recent events have markedly raised the chances of a more adverse scenario where oil flows are constrained for another sustained period." WTI is up 2.6% at $80.97 a barrel and Brent gains 2.4% to $86.22.(anthony.harrup@wsj.com)
1952 ET - Oil rises in early trade amid escalating concerns over supply disruptions in the Middle East. The U.S. struck multiple bridges in Iran on Thursday in a bid to cut off supply routes to a port city and naval base in the Strait of Hormuz, according to a senior U.S. official. The strait is a key waterway through which one-fifth of the world's oil is transported. Iran has responded by striking U.S. infrastructure in the region and its Gulf allies. Front-month WTI crude oil futures are 0.85% higher at $79.62 per barrel. (ronnie.harui@wsj.com)
1912 ET - Woodside Energy last month shot down media speculation that it was in talks regarding a potential transaction with Exxon Mobil. Still, Macquarie says there's logic to a deal. It notes that Woodside's M&A strategy over the past five years has repositioned it to be aligned strategically with Exxon's upstream, LNG and new energies objectives. "In our view, a meaningful premium that would be much harder to deliver as a standalone entity could increase the likelihood of board engagement," Macquarie says. Still, a deal would face several hurdles, including approval from Australia's Foreign Investment Review Board. Macquarie's price target on Woodside rises 9%, to A$32.80/share, after incorporating a 20% probability of an M&A approach over the next 12 months. It also upgrades Woodside to "outperform," from "neutral." Woodside ended Thursday at A$29.49. (david.winning@wsj.com; @dwinningWSJ)
1909 ET - The Middle East conflict and crisis in the Strait of Hormuz has made Qatar LNG assets less valuable in the eyes of investors. That could trigger M&A among liquefied natural gas producers, making Woodside Energy a viable target, Macquarie says. It notes that U.S. majors trade on 40%-50% higher multiples than European or Australian energy companies. So, it contends that this would enable U.S. majors to make all-stock offers to unlock value unavailable in Woodside's current structure. Macquarie's price target on Woodside rises 9%, to A$32.80/share, after incorporating a 20% probability of an M&A approach over the next 12 months. It also upgrades Woodside to "outperform," from "neutral." Woodside ended Thursday at A$29.49. (david.winning@wsj.com; @dwinningWSJ)
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)
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)
(END) Dow Jones Newswires
July 17, 2026 12:20 ET (16:20 GMT)
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