The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.

0725 GMT - Oil prices surge more than 3.5% after the U.S. and Iran exchanged fresh strikes, intensifying their standoff over control of the Strait of Hormuz waterway. In early European trading, Brent crude is up 3.6% to $78.76 a barrel, while WTI futures rise 3.6% to $73.99 a barrel. "Escalation has slowed vessels transiting the strait to a trickle, renewing concerns over oil supply tightness through the third quarter," analysts at ING say. "The risk is that this escalates to levels seen early in the war, where neighboring countries and their energy infrastructure are also targeted." (giulia.petroni@wsj.com)

0726 GMT - The euro could fall further as renewed U.S.-Iran conflict push energy prices higher, ING's Chris Turner says in a note. Natural gas prices are rising and European gas inventories are low during a heatwave, he says. The euro could easily fall towards $1.1360 and potentially drop below the $1.1300-$1.1325 area this month. However, this could prove to be the low point of the euro's trading range this summer, Turner says. The euro falls 0.1% to $1.1408. (renae.dyer@wsj.com)

0716 GMT - Yields on U.K. government bonds, or gilts, rise due to inflation concerns as the U.S.-Iran war escalates. The U.S. launched airstrikes against Iranian targets over the weekend, and Iran attacked ships transiting the Strait of Hormuz. The fresh attacks push up oil prices, reviving concerns about inflation and the possibility of interest-rate rises by major central banks. Ten-year gilt yields climb 2.3 basis points to last trade at 4.906%, Tradeweb data show. (miriam.mukuru@wsj.com)

0707 GMT - The Middle East is more unstable today than it was before the war started, Jefferies' Mohit Kumar says in a note. However, Jefferies remains optimistic in the short term that there could be a solution that would enable oil to flow through and put a lid on oil prices. Approaching U.S. mid-term elections puts pressure on U.S. President Trump, the global economist says. "Trump is constrained due to mid-term elections and the prospects of losing the Senate (as well as the House)," Kumar says. He could be "much more amenable to some version of a deal before mid-terms to keep oil prices in check." (emese.bartha@wsj.com)

0700 GMT - Eurozone government bond yields rise in opening trade, tracking moves in their U.S. peers. The selloff is prompted by renewed military escalation in the Middle East causing oil prices to rise. Higher oil prices fuel inflationary fears, leading to higher bond yields. "With oil volatility making a return, so is rates volatility," ING rates strategists say in a note. "Rate markets are sticking to the previous playbook, whereby any move in oil is directly translated to higher inflation swaps and tighter monetary policy expectations," they say. The 10-year Bund yield rises 1.5 basis points to 3.057%, according to Tradeweb. The Italian 10-year BTP yield is up 2.5 basis points at 3.840%. (emese.bartha@wsj.com)

0655 GMT - Bitcoin falls as further attacks between the U.S. and Iran weaken risk appetite. The U.S. conducted multiple waves of strikes on Iranian military targets Sunday while Iranian forces fired at commercial vessels transiting the Strait of Hormuz, The Wall Street Journal reports. "For now, we remain hopeful that both parties would return to the negotiating table and traffic would start to flow through the Strait," Jefferies economist Mohit Kumar says in a note. President Trump could be more amenable to some version of a deal before the midterm elections in November to keep oil prices in check, he says. Bitcoin falls 2.2% to $62,738, LSEG data show.(renae.dyer@wsj.com)

0632 GMT - The dollar rises after the U.S. and Iran traded new attacks, pushing oil prices higher and driving investors towards safe-haven assets. The U.S. conducted multiple waves of strikes on Iranian military targets Sunday while Iranian forces fired at commercial vessels transiting the Strait of Hormuz, The Wall Street Journal reports. Investors are looking ahead to U.S. inflation data on Tuesday and Federal Reserve Chair Kevin Warsh's testimony to Congress on Tuesday and Wednesday. The DXY dollar index rises 0.2% to 101.113. (renae.dyer@wsj.com)

0544 GMT - U.S. Treasury yields rise in Asian trade as oil prices are higher following the weekend's military escalation in the Middle East, with the two-year yield hitting 4.239%, the highest since February 2025, according to Tradeweb data. Brent oil is up 4.5% at $79.43 per barrel. The U.S. conducted multiple waves of strikes on Iranian military targets Sunday, and Iranian forces fired at commercial vessels transiting the Strait of Hormuz, as the two countries' standoff over control over the critical waterway deepens. The two-year Treasury yield last trades at 4.230%, up 2.3 basis points, while the 10-year yield is up 1.8 basis points at 4.586%. (emese.bartha@wsj.com)

(END) Dow Jones Newswires

July 13, 2026 03:26 ET (07:26 GMT)

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