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

1010 GMT - Palm oil rose in Asian trading. Prices are likely to remain relatively steady this week as Indonesia rolls out its 50% biodiesel program to cut gasoil imports, Nomura analysts write in a note. Higher crude oil prices and concerns over El Nino have so far been offset by weaker exports, they say. Nomura expects CPO prices to remain at around 4,500 ringgit a ton this week, but it could fall towards 4,400 ringgit a ton if exports continue to weaken and crude oil prices decline. The Bursa Malaysia Derivatives contract for September delivery rose 22 ringgit to 4,535 ringgit a ton. (kimberley.kao@wsj.com)

0953 GMT - No liquefied-natural-gas carriers have transited the Strait of Hormuz since July 11, as security risks around the strategic waterway have intensified following Iranian attacks on commercial vessels, according to Kpler data. The disruption is particularly significant because the strait is the only maritime export route for Qatari LNG cargoes traveling beyond the Middle East Gulf and is also a key route for U.A.E. LNG shipments. LNG traffic had begun to recover in June after the U.S. and Iran signed an interim peace deal. Kpler data showed 40 LNG carrier transits through the strait that month, up from eight in May, four in April and none in March. In midmorning trading, European natural-gas prices rise 3.7% to 50.61 euros a megawatt-hour. (giulia.petroni@wsj.com)

0943 GMT - U.K. government bond yields, or gilt yields, are at risk of rising due to political uncertainty, Barclays' analysts say in a note. The U.K. faces political risk as the country awaits a new prime minister after Keir Starmer stepped down in June. Andy Burnham is widely expected to succeed Starmer on July 20 if no Labour party candidate challenges him for the position. The U.K.'s poor public finances could present a challenge for the new prime minister, the analysts say. Bond yields rise globally due to increased Middle East tensions, though U.K. gilt yields rise by more than their eurozone counterparts. Ten-year gilt yields rise 2.2 basis points to 4.904%, Tradeweb data show. (miriam.mukuru@wsj.com)

0921 GMT - Oil prices may remain elevated amid growing Middle East tensions, according to GivTrade's Waleed Said. The risk of disruption across the Strait of Hormuz and other critical supply routes is supporting crude prices, the analyst says. "Brent and WTI could climb further if tensions threaten tankers, ports or production, but credible negotiations and stable shipping flows would quickly remove part of the risk premium," he says. Investors will closely watch whether the tentative oil recovery can be sustained, given the risk of renewed disruption in the Middle East. Front-month WTI crude oil futures are 2.1% higher at $72.91 a barrel; front-month Brent crude futures rise 2.2% to $77.65 a barrel. (tracy.qu@wsj.com)

0915 GMT - The Indonesian government's efforts to centralize management and curb tax leakages in the resources and mineral sectors are expected to gradually boost state revenue and export earnings if policy implementation improves, S&P Global Ratings says in a note. Indonesia's weaker fiscal and external positions, caused by high energy prices, higher interest rates, a weaker rupiah, policy uncertainty and rising debt, are temporary and should improve with higher commodity prices and government spending cuts, it says. S&P affirms Indonesia's BBB long-term sovereign credit rating, and expects the government to keep its fiscal deficit below the legal ceiling of 3% of GDP. It expects Indonesia's economy to grow 5.1% this year despite robust 5.6% growth in 1Q, due to continued external uncertainties and higher domestic interest rates. (yingxian.wong@wsj.com)

0908 GMT - The Polish zloty could underperform its central European peers as the region comes under pressure from risk aversion due to renewed U.S.-Iran conflict, ING's Frantisek Taborsky says in a note. National Bank of Poland Governor Adam Glapinski said a future rate cut was possible during a press conference last Thursday. This could weigh on the zloty for a "bit longer" as data on Wednesday should confirm inflation eased to 2.5% in June, Taborsky says. In contrast, the Czech central bank raised rates in June and Hungary's domestic backdrop has improved, supporting the outlook for these currencies, he says. The euro rises 0.2% to 4.3275 zloty, having reached a 19-month high of 4.3502 on Friday, LSEG data show. (renae.dyer@wsj.com)

0852 GMT - Yields on U.K. 30-year government bonds rise as higher oil prices push up inflation risks. The prospect of elevated inflation raises concerns about the impact on the economy, as well as the possibility of interest-rate rises by the Bank of England. The price of a barrel of Brent crude climbs 2.6% to $77.98 following U.S. attacks on Iranian targets and Iran's strikes on commercial vessels on the Strait of Hormuz. U.K. 30-year gilt yields rise 2.7 basis points to last trade at 5.637%, Tradeweb data show. (miriam.mukuru@wsj.com)

0851 GMT - The cost of default protection for euro credit rises due to worsening market sentiment as the U.S.-Iran conflict intensifies. Over the weekend, the U.S. launched airstrikes on Iran's military targets while Iran struck vessels passing through the Strait of Hormuz. The iTraxx Europe Crossover index of euro high-yield credit default swaps rises 2 basis points to 248bps, S&P Global Market Intelligence data show. (miriam.mukuru@wsj.com)

0841 GMT - The evolution of the U.S.-Iran conflict is likely to be the key factor driving all major asset classes and investor sentiment this week, analysts at First Abu Dhabi Bank say in a note. Military tensions between the U.S. and Iran escalated during the weekend. Focus will be on whether the situation stabilizes or whether it escalates further, they say. "Renewed hostilities between both sides over the weekend have been a worrying development--one that will likely weigh heavily on regional investor sentiment as well as impact negatively on a global macro scale," the analysts say. (emese.bartha@wsj.com)

0841 GMT - European airline stocks fall after oil rallies on renewed military escalation in the Middle East. Deutsche Lufthansa and Air France-KLM trade 2.25% and 2.1% lower, respectively, while International Consolidated Airlines Group trades 1.6% lower and Wizz Air trades 2% lower. Ryanair, Jet2 and TUI trade 1.45%, 1.2%, and 1.4% lower, respectively. EasyJet shares are down 0.2%. "With missiles landing once again across the Middle East there will be worries that the confidence of the traveling public will be dented yet again, just as there were hopes that flight patterns would start to get back to normal," Wealth Club's Susannah Streeter says. (nina.kienle@wsj.com)

0812 GMT - Markets increase their bets of the Bank of England increasing interest rates in the coming months as the U.S.-Iran conflict intensifies. The U.S. attacked Iran's military targets over the weekend and Iran responded with strikes on ships passing through the Strait of Hormuz. The renewed attacks have caused oil prices to rise and brought back inflation fears. Investors currently price in a total of 34 basis points of BOE rate rises in 2026, seven basis points up from last week's expectations, LSEG data show. (miriam.mukuru@wsj.com)

0758 GMT - Interventions by Japanese authorities to shore up the yen are possible this week ahead of the Marine Day public holiday on July 20, ING's Chris Turner says in a note. Authorities intervened in 2024 before the Marine Day holiday and that same playbook would point to potential inventions on Thursday and Friday, he says. However, interventions alone cannot reverse the yen's weakening trend versus the dollar. "For that to happen, energy prices need to come lower and the Federal Reserve must conclude that it does not need to hike rates after all." Neither seem likely in the near term, he says. The dollar rises 0.3% to 162.11 yen.(renae.dyer@wsj.com)

(END) Dow Jones Newswires

July 13, 2026 06:10 ET (10:10 GMT)

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