The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
0931 ET - Oil futures are steady as the U.S. says it's still holding technical talks with Iran despite the exchange of strikes. "Overall, the price action is consistent with the narrative that the market doesn't think the hostilities are going to last," Scott Shelton of TP ICAP says in a note. "The bigger picture after this war ends looks increasingly bleak when you look at balances and supply growth, though we have a large hole to fill on storage overall should we go into a supply/demand surplus to the extent that the IEA suggests." WTI is up 0.1% at $72.12 a barrel and Brent is up 0.3% at $76.52. (anthony.harrup@wsj.com)
0902 ET - Treasury yields rise, while the dollar slips. Fears of escalation in the Middle East recede and oil prices are stable above pre-war levels, following Thursday's decline. Treasury auctions this week showed no signs of declining demand. CPI inflation is due Tuesday and economists will likely examine how June's sharp cool down in energy costs impacted prices. The WSJ Dollar Index is down 0.1%. The greenback falls 0.3% against the yen, as Japan's Finance Minister Katayama asks local pension funds to invest more in domestic assets. The 10-year yield is at 4.543%, after settling yesterday at 4.539%. The two-year edges higher to 4.179% from 4.162%. (paulo.trevisani@wsj.com; @ptrevisani)
0832 ET - Delta Air Lines, the inaugural reporter for the airline earnings season, is giving a first glimpse of how this spring's surge in jet fuel costs weighed on carriers' bottom lines. Delta says fuel costs in 2Q were up 67% year-over-year at $4.1 billion, marking its highest quarterly fuel expense in company history and pushing total operating costs up 23% to $17.89 billion. Higher flight prices gave a big lift to revenue, but only managed to cover 60% of the increase in fuel costs, according to CEO Ed Bastian. Delta's 2Q profit slid 25% to $1.6 billion, or $2.44 a share. Things could be worse for the rest of the industry because, unlike any of its competitors, Delta owns a jet fuel refinery that helped mitigate the impact of high fuel costs. (dean.seal@wsj.com)
0824 ET - The United Arab Emirates ramped up crude oil production to a record monthly high last month as it pursues its expansion plans after leaving OPEC in May. The country pumped 4.1 million barrels a day on average in June after months of disruptions in the Middle East, the International Energy Agency says in its closely watched monthly report. Most of the increase came before the U.S. and Iran exchanged a series of attacks this week, marking the sharpest escalation since the two sides agreed to a 60-day peace deal in mid-June. The flare-up in tensions has curtailed traffic through the Strait of Hormuz, threatening regional supply once again. (giulia.petroni@wsj.com)
0733 ET - Euro-denominated investment-grade credit looks attractive due to its favorable risk-return trade off, LBBW's Michael Kohler says in a note. President Trump's remarks this week that the Iran ceasefire was over revived geopolitical concerns, driving up government bond yields and euro investment-grade yields, Kohler says. European corporates maintain healthy financial positions which should boost demand for euro credit, he says. (miriam.mukuru@wsj.com)
0729 ET - The Polish zloty falls to 19-month low against the euro and a two-and-a-half-year low versus the Czech koruna on the prospect of Poland's central bank cutting interest rates. National Bank of Poland Governor Adam Glapinski signalled a future rate cut in a press conference Thursday, a day after the central bank left rates unchanged at 3.75% as expected. This came as a surprise due to the renewed strikes between the U.S. and Iran, Commerzbank's Tatha Ghose says in a note. The idea that Iran might force NBP into raising rates has evaporated, he says. The euro rises to 4.3502 zloty, while the zloty falls to a low of 5.5718 koruna.(renae.dyer@wsj.com)
0728 ET - Bitcoin rises as worries over the U.S.-Iran conflict ease, improving appetite for risky assets. Despite renewed strikes between the U.S. and Iran this week, a U.S. official said technical talks are continuing, WSJ reports. Positive developments in crypto legislation are providing further support, Saxo Bank analysts say in note. Momentum is building behind U.S. market-structure legislation with reports indicating that the Clarity Act could reach the Senate later this month after CFTC Chair Michael Selig urged Congress to advance the crypto regulation bill, they say. Bitcoin rises 1.8% to $64,389, according to LSEG. (renae.dyer@wsj.com)
0636 ET - U.S. Treasury yields edge marginally lower while the dollar is stable on expectations that peace talks between the U.S. and Iran could resume. Diplomatic hopes helped stabilize oil pries after the latest escalations in the Middle East. "However, markets are still anticipating an interest rate hike [by the Federal Reserve] by year-end and another next year, which could keep yields at elevated levels and support the currency," Kudo.com's Konstantinos Chrysikos says in a note. Monetary policy expectations could continue to adjust as rapidly changing geopolitical conditions in the Middle East affect the inflation outlook, he says. The 10-year Treasury yield falls 0.6 basis points to 4.531%, according to Tradeweb. The DXY dollar index is stable at 100.871. (emese.bartha@wsj.com)
0616 ET - Crude palm oil ended lower amid concerns over rising stock levels in Malaysia, according to David Ng, a trader at Kuala Lumpur-based Iceberg X. Weaker-than-expected export performance, lower crude oil and soybean oil prices were also added to the price pressure, he says. Ng sees palm oil prices supported above 4,500 ringgit a ton and faces resistance at 4,680 ringgit a ton. The Bursa Malaysia Derivatives contract for September delivery falls 83 ringgit to 4,511 ringgit a ton. (tracy.qu@wsj.com)
0613 ET - Wizz Air's earnings recovery is at risk, with the market expecting a much faster profit recovery than is likely, RBC Capital Markets analyst Ruairi Cullinane says in a research note. Previous earnings were boosted by one-off items such as compensation payments and foreign exchange gains that are unlikely to be repeated, Cullinane says. The analyst also sees continued pressure on ticket revenues and operating costs as risks to near-term profitability. While aircraft availability is expected to improve over time, Wizz Air's current valuation already assumes a strong rebound, leaving around 20% downside if earnings recovery proves slower than anticipated, he says. RBC cuts its recommendation to underpeform from sector perform. Shares fall 0.4% to 1168 pence. (nina.kienle@wsj.com)
0515 ET - The cost of insuring euro credit against default stays steady as possible easing tensions between the U.S. and Iran restore market calm. A U.S. official said technical talks with Iran are continuing, The Wall Street Journal reports, easing concerns about possible escalation in the Middle East conflict. The iTraxx Europe Crossover index of euro high-yield credit default swaps is unchanged at 244 basis points, S&P Global Market Intelligence data show. (miriam.mukuru@wsj.com)
0454 ET - U.S. gasoline demand has shown unexpected strength despite higher fuel prices and weaker consumer sentiment, the International Energy Agency says. Gasoline consumption rose by an average of 1.5% year over year in March and April, reversing a 12-month trend of declines. The increase came even as pump prices climbed nearly 50% since the start of the conflict. The IEA says preliminary data point to slower growth in May and June, but American drivers accounted for nearly one-third of global gasoline consumption, making U.S. fuel use a key factor in the market. While the agency says that some of the recent increase might reflect consumer stockpiling, demand growth is still expected to return closer to historical trends in 2027. (giulia.petroni@wsj.com)
(END) Dow Jones Newswires
July 10, 2026 09:31 ET (13:31 GMT)
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