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

0841 ET - U.S. natural gas futures are steady after recent declines on a milder weather outlook and soft LNG feedgas flows. "Natural gas appears to have found some footing as the market awaits a full return to service of the Freeport LNG terminal as well as more heat for the south and west next week," Gary Cunningham of Tradition Energy says in a note. The Nymex August contract will need "significant help" from the weather to get back toward the $3 level, "but the freefall towards $2.70 looks to have been belayed at least for now," he adds. Natural gas is up 0.1% at $2.861/mmBtu.(anthony.harrup@wsj.com)

0824 ET - Oil prices extend gains in early U.S. trade, with Brent crude up 2.1% to $86.02 a barrel and WTI futures rising 2.4% to $80.15 a barrel. Escalating tensions between the U.S. and Iran are curbing flows through the Strait of Hormuz and raising fears of a full-blown conflict as the two sides attack energy infrastructure in the Gulf region. Meanwhile, all eyes are on the Bab el-Mandeb strait, the gateway to the Red Sea that market watchers fear could become a target for Yemen's Houthi rebels. While in February just under 3.9 million barrels a day were transported through this strait, the figure rose to about 7.2 million barrels in April, highlighting the growing importance of the shipping route, analysts at Commerzbank say. (giulia.petroni@wsj.com)

0631 ET - A fall in U.S. Treasury yields accelerates in European trade as oil prices stabilize. The dollar is stable as safe-haven demand due to concerns about conflict in the Middle East is offset by reduced expectations for U.S. interest-rate hikes. "The U.S, dollar remained broadly stable as investors balanced safe-haven demand against moderating expectations for Federal Reserve tightening," Kudo.com's Konstantinos Chrysikos says in a note. The two-year Treasury yield falls 3.2 basis points to 4.122%, while the 10-year Treasury yield declines 4 basis points to 4.528%, according to Tradeweb. Brent is up 1.8% at $85.77, but stays around recent levels. The DXY dollar index is flat at 100.797. (emese.bartha@wsj.com)

0455 ET - BlueBay Asset Management has been tactically buying 10-year German Bund yields at yields around 3.12% over the past week, fixed income CIO Mark Dowding says in a note. Unlike other major central banks, the European Central Bank hiked interest rates early in response to higher energy prices. This could help prevent a rise in medium-term inflation expectations and alleviate the potential for more aggressive policy action later, Dowding says. "In this light, we continue to favour European yields, relative to those in the U.S.," he says. The asset manager also adds exposure to U.S. inflation swaps at attractive levels following below-forecast June inflation data. The 10-year Bund yield falls 1.7 basis points to 3.120%, according to LSEG. (emese.bartha@wsj.com)

0442 ET - SMA Solar Technologies faces a highly favorable scenario if the U.S. and EU decide to implement a ban on Chinese large-scale inverters--electrical devices used in renewable-energy projects--and battery storage systems, Jefferies analysts say in a note. The solar energy equipment supplier's 2H pipeline remains solid due to strong battery energy storage systems demand, and a government ban would force Western developers to find non-Chinese alternatives. Jefferies' upside scenario assumes a more favorable regulatory environment, particularly in the U.S., which supports solid growth in utility scale orders and assumes a significant uptick in storage orders from Europe. "We also anticipate this to lead to a re-rating," the analysts say. Shares are up 10% at 64 euros.(anthony.orunagoriainoff@dowjones.com)

0412 ET - Recent renewed optimism on Germany's chemical manufacturer BASF is premature, since much remains uncertain around the continued conflict in the Middle East, J.P Morgan analysts say in a research note. Chemical producers in Asia, who were typically more exposed to the Strait of Hormuz for the sourcing of oil and naphtha--the key oil-based feedstock for petrochemicals--prior to the conflict, have shown greater flexibility in sourcing from alternative regions than was originally expected, the analysts say. This means that oversupply in the chemical industry might persist even in a tighter feedstock market, with potential for an even greater margin pressure, they add. Shares trade 0.2% higher at 48.49 euros. (nina.kienle@wsj.com)

0356 ET - Gold prices slip below $4,000 a troy ounce and are on track for a weekly decline of more than 3%. Escalating hostilities between the U.S. and Iran are fueling fears that higher energy prices could keep inflation elevated and prompt the Federal Reserve to raise interest rates. "The recent price action suggests that markets are placing greater weight on the prospect of higher-for-longer U.S. interest rates than on gold's traditional safe-haven demand, leaving gold vulnerable unless geopolitical risks translate into a broader deterioration in financial market sentiment," says Soojin Kim from MUFG. In early trading, New York gold futures rise 0.1% to $3,996.80 an ounce. (giulia.petroni@wsj.com)

0357 ET - Oil prices are on track for a weekly gain of more than 10% as the U.S. and Iran step up attacks and raise fears of broader regional disruptions. "The renewed disruption has interrupted the recent recovery in regional supply, reviving concerns about tighter global markets," Saxo Bank analysts say. "The impact has been most acute in refined products, with diesel and gasoline prices surging, pushing U.S. refining margins to record highs and increasing the risk of higher fuel costs for consumers." On Thursday, the U.S. struck multiple bridges in Iran in an effort to cut off supply routes to a port city and naval base in the Strait of Hormuz that Iran uses to attack ships, The Wall Street Journal reported. Brent crude rises 0.4% to $84.57 a barrel, while WTI futures are up 0.8% to $79.58 a barrel. (giulia.petroni@wsj.com)

0327 ET - Yields on U.K. government bonds fall, reversing Thursday's rise, as oil prices stabilize and inflation concerns ease. Oil prices are more contained than they were at the start of the week, providing relief over inflation fears, particularly after recent weaker-than-forecast U.S. inflation data. Demand for safe-haven assets such as government bonds also pushes yields lower as hostilities between the U.S. and Iran continue. Ten-year gilt yields fall 3.6 basis points to last trade at 4.938%, Tradeweb data show. (miriam.mukuru@wsj.com)

0318 ET - Eurozone government bond yields fall in early trade, tracking U.S. Treasury yields lower. Oil prices edge slightly higher but their rise is limited, with Brent crude trading at $84.55 per barrel, still significantly below the Middle East war-time peak of $126.41 on April 30. The data calendar is light on Friday, although eurozone balance of payments data for May and final harmonized CPI data for June are due for release. There is no government bond issuance due. The yield on the August 2036-dated Bund yield falls 1.8 basis points to 3.120%, according to LSEG. (emese.bartha@wsj.com)

0311 ET - The resumption of the Middle East war begs the question of what has been achieved, says Shane Oliver, chief economist at AMP. Iran is arguably now stronger having proved it can block the strait, its government is more hardline, there is no resolution to its nuclear ambitions and it still has missiles and drones, he adds. There are parallels with the Ukraine and Vietnam wars that showed a superior military power can be challenged, though they didn't threaten the global economy to the same degree, he adds. (james.glynn@wsj.com; X @JamesGlynnWSJ)

0241 ET - The dollar edges lower as oil prices stabilize after rising recently, even as hostilities between the U.S. and Iran continue. Oil prices have risen due to renewed Middle East conflict, which should typically benefit the dollar because the U.S. is a net oil exporter. However, weaker-than-expected U.S. consumer-price and producer-price inflation figures have sent confusing signals and leave the dollar struggling for direction, Commerzbank's Volkmar Baur says in a note. "In addition to the rise in oil prices, there are also falling inflation numbers, which point in a different direction," he says. The DXY dollar index edges down 0.1% to 100.689 as the price of a barrel of Brent crude is steady at $84.25. (jessica.fleetham@wsj.com)

(END) Dow Jones Newswires

July 17, 2026 08:41 ET (12:41 GMT)

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