Market Talks covering the impact of U.S. Politics and White House policies on companies and markets. Published exclusively on Dow Jones Newswires throughout the day.

0344 ET - Oil prices rise, with Brent crude trading just shy of $86 a barrel after the U.S. reinstated its naval blockade on Iran. "Although Trump withdrew a proposal to impose transit fees on ships using Hormuz, the renewed conflict has pushed oil prices to their highest level in about a month, while broader regional tensions intensified following Houthi attacks on Saudi Arabia," says Soojin Kim from MUFG. The escalation has undermined confidence in shipping through the Strait of Hormuz despite U.S. assurances that the waterway remains open, reversing what had been a strong recovery in Persian Gulf shipping flows and threatening the rebound in exports from Gulf producers. In early European trading, Brent crude rises 1.2% to $85.78 a barrel, while WTI is up 1.1% to $80.19 a barrel. (giulia.petroni@wsj.com)

0333 ET - Antofagasta's second-quarter copper production miss should raise caution, RBC Capital Markets analysts Ben Davis and Marina Calero say. Production missed expectations on temporary maintenance at the Los Pelambres mine, although delayed volumes should be recognized in the second half of the year, the analysts say. While the company maintained its annual production guidance, the analysts highlight higher cost pressures from diesel and other consumables. The analysts also remain wary of uncertainty surrounding copper prices, citing global growth risks and potential U.S. tariff decisions. Despite key growth projects progressing on schedule, the stock's valuation remains demanding relative to the risks, RBC says. Shares trade 2.5% lower at 3,745 pence. (nina.kienle@wsj.com)

1518 ET - Oil futures add to yesterday's gains but settle off the day's highs after President Trump withdrew a plan to charge a 20% fee to cover the cost of protecting ships through the Strait of Hormuz. "That was exponentially higher than the $1 per barrel that the Iranians were charging," says Mizuho's Robert Yawger. "That cost-of-carry issue is out the window and you see prices coming off accordingly." Yawger expects the U.S. would lift its blockade of Iranian ports when a certain number of ships are seen crossing the strait unmolested by Iran. That could mean 20 to 40 ships a day, well below pre-conflict levels, he says. "That's the new reality until we get some kind of bad deal that everybody can live with." WTI rises 1.5% to $79.34 a barrel and Brent gains 1.7% to $84.73. (anthony.harrup@wsj.com)

1415 ET - The Brazilian government's decision to raise the mandatory ethanol blend in gasoline to save on gasoline imports will increase its domestic corn consumption, adding to an existing trend of leaving less corn available for export, Mike Castle of StoneX says in a note. "This is one of the driving forces behind record U.S. corn exports in the current marketing year, as well as USDA's expectation for maintaining near-record exports (3.2 billion bushels) in the year ahead." The Brazilian ethanol will be made from both sugar cane and corn, he notes. (anthony.harrup@wsj.com) Corrections & Amplifications

This was corrected at 2:50 p.m. ET because it incorrectly attributed comments to Arlan Suderman. The Brazilian government's decision to raise the mandatory ethanol blend in gasoline to save on gasoline imports will increase its domestic corn consumption, adding to an existing trend of leaving less corn available for export, Mike Castle of StoneX says in a note.

1126 ET - Oil prices trim gains after President Trump said he would replace the proposed 20% fee on cargo passing through the Strait of Hormuz with "trade and investment deals" that Gulf countries will make in the U.S. Brent crude is up 1% to $84.17 a barrel after climbing past $87 a barrel earlier, while WTI futures are up 0.9% to $78.79 a barrel. In a social-media post on Tuesday, Trump also said the Strait of Hormuz is open to all shipping traffic except for Iran's.(giulia.petroni@wsj.com)

(END) Dow Jones Newswires

July 15, 2026 03:45 ET (07:45 GMT)

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