The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
0933 ET - U.S. natural gas futures are little changed in early trading, with triple-digit heat in Texas heat 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)
0912 ET - 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)
0903 ET - Bitcoin rallies to a five-week high as U.S. stock futures rise, with the tech-heavy Nasdaq leading gains ahead of earnings from major tech companies. Bitcoin is also supported by renewed institutional demand, with spot bitcoin exchange-traded funds recording two consecutive weeks of net inflows, Trade Nation's David Morrison says in a note. Bitcoin rises to a high of $66,602, LSEG data show. The next big upside target is $70,000, while chart support stands at $65,000, Morrison says. (renae.dyer@wsj.com)
0701 ET - Hapag-Lloyd trades at an unjustified premium to historical multiples and compared to peers, UBS analyst Cristian Nedelcu writes. The analyst says the industry order book is at a historically high level of around 40% of the current fleet while Hapag-Lloyd's EBIT margins have underperformed versus peers over recent years. "In the context of supply exceeding demand by 2027/28, we expect free cash flow burn across the industry." Hapag-Lloyd upgraded full-year guidance last week and UBS lifts its Ebitda estimates for 2026, 2027 and 2028 mainly to reflect higher volumes and rates. The bank lifts its price target on the stock to 102 euros from 96 euros. Shares rise 0.9% to 124.30 euros. (dominic.chopping@wsj.com)
0616 ET - Palm oil futures closed lower, weighed by a pullback in rival soy oil and potential profit taking overnight, Kenanga Futures analysts said in a note. The downside was likely cushioned by concerns over the possible impact of a super El Nino on future supply and expectations of strong demand from India ahead of the festive season, it added. Kenanga Futures pegs the support and resistance for the October contract at 4,560 ringgit a metric ton and 4,665 ringgit a ton, respectively. The Bursa Malaysia Derivatives contract for October delivery ended 34 ringgit lower at 4,609 ringgit a ton. (amanda.lee@wsj.com)
0602 ET - U.S. Treasury yields and the dollar trade steady amid hopes that diplomatic talks between the U.S. and Iran could be revived and a ceasefire put in place, Kudo.com's Konstantinos Chrysikos says in a note. "Progress on that front would limit the demand for safe-haven assets, weighing on the greenback," he says. However, falls in the dollar and Treasury yields could remain limited after Yemen's Iran-aligned Houthi movement declared a naval blockade on Saudi Arabia. Meanwhile, military operations continue in the region and disruptions to maritime traffic persist, Chrysikos says. The 10-year U.S. Treasury yield is steady at 4.598%, according to Tradeweb. The DXY dollar index is stable at 100.926. (emese.bartha@wsj.com)
0526 ET - John Healy's appointment as treasury chief is a positive development for U.K. manufacturers, Emily Sawicz at RSM UK says in a note. Alongside Wes Streeting as defense secretary, the move signals a focus on delivering defense investment, placing stronger emphasis on supporting U.K.-based producers and supply chains, she says. "This could provide a meaningful boost for domestic industry, helping to strengthen manufacturing capacity, support skilled jobs and encourage investment and innovation across the wider industrial base." Still, increased spending will need to be combined with investment in technological advancement, production capacity and workforce development, Sawicz adds. With the industry facing a lack of skills availability and significant order backlogs, a stable pipeline of defense projects will be needed to boost business confidence, she says. (don.forbes@wsj.com)
0454 ET - London's miners trade higher in mid-morning European trade as gold prices gain. This comes as mediators work on a new ceasefire agreement. Reports that talks were ongoing halted oil's rise and eased some inflation concerns. At the same time, investors have bought gold, which has suffered from some price weakness, MUFG's Soojin Kim writes. "Markets continue to balance the inflationary impact of higher energy costs against weaker U.S. economic data, with expectations that persistent inflation could prompt the Fed to maintain a tighter monetary policy stance," she writes. In New York, gold futures are up 1.3% at $4,068 a troy ounce. In London, precious metal miners Fresnillo, Hochschild Mining and Endeavour Mining all rise over 2.3%. Commodities giant Glencore gains 2% and Anglo American rises 1.5%.(adam.whittaker@wsj.com)
0443 ET - The size and longevity of Prysmian's agreement with Molex is highly positive, Jefferies analyst Lucas Ferhani says in a research note. The deal allows the Italian cable maker to fix its gap in connectivity-solution offerings for data centers and, given the recent weakness in the shares, should bring more confidence to its digital solutions business, Ferhani says. The deal also came in well ahead of expectations and prior comments, he adds. Prysmian is expected to provide more details on the impact during the next results, the analyst adds. Shares trade 2.8% higher at 128.5 euros. (nina.kienle@wsj.com)
0421 ET - The euro could soon fall back below $1.14 if energy prices remain elevated, ING's Francesco Pesole says in a note. Expectations the European Central Bank will raise interest rates further have provided support to the euro but there is limited scope for markets to price in further tightening, he says. Markets price 45 basis points of rate rises by year-end, according to LSEG, and this pricing is unlikely to exceed 50 basis points, he says. Even at the peak of the spring oil rally, markets never priced the year-end deposit rate rising above 2.75% from 2.25% currently. "That suggests further oil price gains may increasingly weigh on euro-dollar." If the euro breaks below $1.14, the next key support level is $1.1330, he says. (renae.dyer@wsj.com)
0421 ET - Var Energi's BlueNord acquisition supports long-term production, with the deal expected to add around 45,000 barrels of oil-equivalent a day in net production from the Danish Continental Shelf, J.P. Morgan analysts Alejandra Magana and Riddhi Agarwal write. Accumulated post-tax synergies are guided at $250 million-$300 million between 2027 and 2032, driven by financing costs and lower overhead costs. On the back of the acquisition, Var raised its long-term production target to around 450,000 barrels a day from over 400,000 barrels a day and raised its second-quarter dividend and third-quarter dividend guidance to $350 million, an increase of 17%. "We expect 2026 and longer term dividend forecasts to rise and 2027+ production estimates to increase." Var Energi shares rise 5.3% while BlueNord shares climb 6.3%.(dominic.chopping@wsj.com)
0411 ET - Jonathan Reynolds's reappointment as secretary of state for business and trade is a positive decision by new Prime Minister Andy Burnham, manufacturers organization Make UK says. Reynolds's success will be measured by whether manufacturers see lower costs, fewer trade barriers and a more competitive environment, Make UK CEO Stephen Phipson says. "We stand ready to work with the Secretary of State to make this a reality," Phipson says. (ian.walker@wsj.com)
(END) Dow Jones Newswires
July 21, 2026 09:33 ET (13:33 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments