The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
0726 GMT - Yields on U.K. government bonds climb as the U.S.-Iran conflict drives up oil prices, raising inflation risk. Investors are concerned that the prolonged hostilities could push up inflation and cause the Bank of England to increase interest rates. Ten-year gilt yields climb 4.4 basis points to last trade at 4.994%, Tradeweb data show. (miriam.mukuru@wsj.com)
0721 GMT - European energy stocks open higher as oil climbs on concerns that escalating hostilities between Iran and the U.S. threaten energy flows through the Strait of Hormuz. Tit-for-tat exchanges have pushed Brent crude futures 3.3% higher to 90.97 a barrel while WTI rises 1% to $78.46 a barrel. In London, BP is up 1.2% while Shell rises 0.5%. Spain's Repsol, Norway's Equinor and France's TotalEnergies are all up around 1.7%. Italy's Eni rises 1.4%.(adam.whittaker@wsj.com)
0717 GMT - Eurozone government bond yields rise in opening trade, in line with U.S. Treasury yields, as higher oil prices reignite inflationary fears. The significant military escalation between the U.S. and Iran has driven Brent oil back above $90 per barrel, last trading 3.2% higher at $90.91. The rise in oil prices will concern policymakers at the European Central Bank ahead of Thursday's decision. However, money markets continue to suggest the ECB won't raise rates until September, LSEG data show. Yields on the 10-year German Bund, maturing in August 2036, rises 2.2 basis points to 3.145%, while the increase is slightly more on bonds of eurozone peers, according to LSEG. (emese.bartha@wsj.com)
0658 GMT - Bitcoin falls slightly as an escalation in the Middle East conflict weighs on risk appetite. The U.S. military announced a ninth consecutive night of attacks targeting Iran late Sunday after a U.S. service member was killed. "With no important U.S. data scheduled today, bitcoin's direction will depend mainly on exchange traded fund flows, the dollar, Treasury yields, geopolitical developments and progress toward clearer crypto regulation," Zaye Capital Markets analyst Naeem Aslam says in a note. Bitcoin falls 1.0% to $63,845, LSEG data show. (renae.dyer@wsj.com)
0653 GMT - The dollar trades steady, showing little reaction to an escalation in strikes between the U.S. and Iran. The U.S. military announced a ninth consecutive night of attacks late Sunday, pushing oil prices higher. "In part, we think markets are now more comfortable with the risks stemming from disrupted energy supply," Monex Europe analysts say in a note. With the U.S. economy likely to slow in coming months, a modest pullback in the dollar "looks fair to us," they say. The DXY dollar index trades flat at 100.761. (renae.dyer@wsj.com)
0608 GMT - Energy prices and headline risks are likely to remain the key drivers for Bunds, curves and spreads ahead of the European Central Bank's monetary policy decision, Commerzbank's Rainer Guntermann says in a note. German 10-year Bund yields could test last week's highs at 3.16%, but these levels may also provide some support, the rates strategist says. Brent oil last trades at $90.57, up 2.80%. On Friday, the 10-year Bund yield closed at 3.123%, according to LSEG. (emese.bartha@wsj.com)
0601 GMT - Rising oil prices leave another interest-rate hike by the European Central Bank in the offing for September, which is also fully priced in, Commerzbank's Rainer Guntermann says in a note. ECB President Christine Lagarde is likely to strike a firm tone with regard to inflation risks, the rates strategist says ahead of the ECB's monetary policy decision Thursday. Lagarde, however, is unlikely to precommit to a September hike, as the situation remains in flux amid rising headwinds to growth, Guntermann says. (emese.bartha@wsj.com)
0544 GMT - The Iran war is heading in the wrong direction, having escalated further and raising the risk of a broader conflict and disruptions in oil supplies via the Strait of Hormuz, say Robert Bergqvist and Maya Westerlund at SEB in a note. 'There are still some signs of restraint, but the room for misjudgment is shrinking rapidly,' the analysts note. The U.S. and Iran have now targeted each other for nine nights in a row. "The situation is undeniably serious, and Donald Trump seems to lack a plan." Most recently, two U.S. soldiers were killed in an Iranian attack in Jordan, prompting the U.S. to strike back against Iran's Revolutionary Guard. Brent oil is up 2.5% at $90.26 per barrel. (emese.bartha@wsj.com)
0528 GMT - Havells India's growth headwinds likely remain, Nomura analysts say in a research report. These include rising competition, weak demand, and cost inflation in India, the analysts note. Competition is poised to intensify further with UltraTech Cement's wires and cables plant ramping up from 2H FY 2027 onward, the analysts say. Also, given high competition in its electrical consumer durables and Lloyd segments, there can be risks to the Indian fast-moving electrical goods company's expected margin recovery. Nomura downgrades the stock's rating to neutral from buy and lowers its target price to 1,361.00 rupees from 1,620.00 rupees. Shares are 1.4% higher at 1,202.85 rupees. (ronnie.harui@wsj.com)
0518 GMT - Morgan Stanley closes its long five-year Italy versus Germany bond trade, seeing currently limited room for spread tightening, its strategists say in a note. The trade was initiated in June on the back of renewed optimism around the Middle East. "With geopolitical uncertainty having resurfaced and remained elevated for more than a week, we now see limited scope for further Italy tightening," they say. "[Italian government bonds] BTPs continued to trade largely as a function of Brent." Morgan Stanley also closes its short France versus an equal-weighted basket of Italy and Germany. The 10-year Italian BTP-German Bund yield spread closed just shy of 83 bps on Friday, according to LSEG. (emese.bartha@wsj.com)
(END) Dow Jones Newswires
July 20, 2026 03:26 ET (07:26 GMT)
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