The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
0237 GMT - Indah Kiat Pulp & Paper is likely to benefit from tailwinds, Bahana Sekuritas' Arvin Lienardi says in a research report. Its pulp-price environment looks favorable with hardwood pulp prices currently above $600 per ton and July futures having reached $650 a ton, signaling continued firmness, the analyst says. Second, the Indonesian company's 2.4-million-ton industrial paper mill in Indonesia's Karawang finally came online in 1H, and is expected to help boost core profit growth by 55% in 2026 and 20% in 2027. The brokerage initiates coverage of the stock with a buy rating and a target price of 10,600.00 rupiah. Shares are 0.3% higher at 7,900.00 rupiah. (ronnie.harui@wsj.com)
2336 GMT - Oil rises in early Asian trade amid growing concerns over supply disruptions in the Middle East. "A Kuwaiti oil tanker was attacked in the Strait of Hormuz northeast of Oman by an unknown projectile," ANZ Research analysts say in a research report. "This follows strikes in recent days on vessels owned by Dynacom Tankers Management," the analysts say. This has left the Strait of Hormuz "deserted, with no ships observed transiting the waterway on Tuesday," they say. Also, prospect of a U.S.-Iran ceasefire agreement has faded, the analysts add. Front-month WTI crude oil futures are 0.4% higher at $84.68 per barrel. (ronnie.harui@wsj.com)
2251 GMT [Dow Jones]--The U.S. dollar edged higher through U.S. and European trading as the U.S. and Iran exchanged strikes for a 10th consecutive day, says Samara Hammoud, currency strategist at CBA. CBA expects the strikes in the Middle East to continue for the next two months, bringing with it a renewed closure of the Strait of Hormuz and pushing Brent oil prices toward US$100 per barrel. A continuation of the Middle East conflict should support the USD because of its safe‑haven status and typically positive correlation with oil prices, Hammoud adds. (james.glynn@wsj.com; X @JamesGlynnWSJ)
1905 GMT - Oil futures rise for a third straight session as the U.S. and Iran continue strikes, while President Trump says the U.S. isn't interested in a meeting until Iran is ready to meet in what he called "a meaningful way." His comments dampen expectations for a quick return to the negotiating table. "The market remains supported by elevated geopolitical risk, but any meaningful diplomatic breakthrough could quickly remove part of the current risk premium," analysts at Kotak Neo say in a note.WTI for August delivery goes off the board at $84.91 a barrel, up 2%, while the September contract rises 2.3% to $84.34. Brent settles up 2% at $91.01 a barrel. (anthony.harrup@wsj.com)
1903 GMT - U.S. natural gas futures end a rangebound session near flat as cooling demand in the south and central U.S. is tempered by milder temperatures in the east and prospects that Tropical Storm Bertha could interrupt LNG exports in the Gulf and bring cooling rains to parts of Louisiana and Texas. The August contract remains "stuck between support near the upper $2.70s and resistance around the $3.00 level," Gelber & Associates says in a note. "The broader balance still leaves sellers with room to defend resistance." Nymex natural gas settles up 0.2% at $2.865/mmBtu.(anthony.harrup@wsj.com)
1750 GMT - Movement in energy prices is supporting the turnaround seen in grain futures this afternoon, says Oliver Sloup of Blue Line Futures. "I think you see strength in the energy complex; oil, heating oil, RBOB also offering support," says Sloup. Light crude is up 2.5%, to $85.28 a barrel, according to LSEG data, with Brent crude oil up 2.2%, to $91.19 a barrel. Grains like corn have been riding waves with energy prices, due to the usage of it in renewable fuels like ethanol. Most-active CBOT corn is up 0.6%, while wheat rises 0.5% and soybeans fall 0.3%. (kirk.maltais@wsj.com)
1601 GMT - Now that Tidewater Midstream and Infrastructure's restructuring has taken hold, National Bank of Canada analyst Patrick Kenny thinks the company is poised to move into a growing phase. "Management's attention is shifting towards offence," Kenny says, pointing to the sanctioning of its $1.2 billion Sustainable Aviation Fuel project, growing field gas throughput at Brazeau River Complex, and restarting Ram River in 2H. He figures that these together represent about C$30 a share of "unrisked valuation upside," which would more than double current valuations. National Bank upgrades the stock to outperform from sector perform with a C$25 price target, up from C$17 previously. Shares are up 6.7% to C$20.82, and are up nearly fourfold this year. (adriano.marchese@wsj.com)
1540 GMT - Gulf stock markets close mixed, with Saudi stocks lower but others slightly higher amid uncertainty over the Middle East conflict. Qatar's QE Index rises 0.2%, the Dubai Financial Market General Index gains 0.3% and Abu Dhabi's benchmark index adds 0.4%, while Saudi Arabia's Tadawul All Share Index is down 0.4%. Qatar has floated a 10-day ceasefire and a halt to shipping restrictions in the Strait of Hormuz. Stable oil prices, resilient corporate fundamentals and expectations of solid second-quarter earnings are also helping sentiment, particularly in banking and large-cap names, says XTB MENA's Milad Azar. Attractive valuations supporting selective buying in U.A.E. stocks, while Saudi Arabia's weaker performance reflects concerns about potential Red Sea disruptions, he says. (farhan.rafid@wsj.com)
1522 GMT - Global oil markets are facing the biggest pressure from tighter product supplies as the U.S. and Iran escalate hostilities, analysts at Commerzbank say. In the U.S., the gap between crude oil costs and fuel prices has widened sharply, climbing to almost $70 a barrel. Gasoline prices have risen back above $4 per gallon, while stockpiles are nearly 8.5% below seasonal norms as demand remains strong, the analysts say. Refiners operated at exceptionally high capacity levels in the second quarter, prioritizing jet fuel production for international markets over gasoline output. Analysts warn that pushing refineries too hard for too long could increase the risk of refinery outages later in the year. Meanwhile, China is adding to global product market tightness, with June production of jet fuel, diesel, and gasoline all declining sharply from year-ago levels, according to Commerzbank. (giulia.petroni@wsj.com)
1446 GMT - Oil prices gain more than 2.5% as fresh attacks between the U.S. and Iran and threats of a naval blockade by Yemen's Houthis lift Brent crude above $91 a barrel. Efforts by mediators to broker a new ceasefire between Washington and Tehran have provided some relief to markets, but the wide gap between the two sides leaves investors skeptical about the prospects for a lasting agreement. Maritime traffic through the Strait of Hormuz has virtually halted, while any disruption to the Bab al-Mandab Strait by the Houthis would deal a significant blow to energy markets at a time when global oil inventories are tighter, analysts say. In early U.S. trading, Brent rises 2.6% to $91.55 a barrel, while WTI is up 2.6% to $84.66 a barrel. (giulia.petroni@wsj.com)
1333 GMT - U.S. natural gas futures are little changed in early trading, with triple-digit heat in Texas likely to support power-sector demand. The possible impact of tropical storm Bertha is mixed as the system moves along the Gulf coast, with potential for offshore production declines but also risks to LNG exports and cooling rains, Eli Rubin of EBW Analytics says in a note. Offshore natural gas production loss from the storm could be between 4.4 Bcf and 6 Bcf, according to estimates by Earth Science Associates. The consulting firm estimates lost oil production between 1.4 and 5.4 million barrels. Nymex natural gas is off 0.1% at $2.858/mmBtu.(anthony.harrup@wsj.com)
1312 GMT - Crude futures are higher as the U.S. continues its strikes on Iranian targets and Iran attacks U.S. bases and other sites around the Gulf. Adding to supply concerns are Houthi threats against Saudi shipping in the Red Sea and Ukraine's attacks on Russian energy infrastructure. Price advances with the latest escalation have been contained by expectations there could be a return to talks at any time. "Like everyone else I am gunshy on being overly bullish considering the headline risks that can be generated at any moment that will send oil down $5 when the market is clearly long," Scott Shelton of TP ICAP says in a note. WTI for August delivery is up 1.9% at $84.79 ahead of today's expiry and Brent is up 1.7% at $90.76.(anthony.harrup@wsj.com)
(END) Dow Jones Newswires
July 21, 2026 22:37 ET (02:37 GMT)
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