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

0818 GMT - Investors raise their expectations of the Bank of England increasing interest rates in the coming months given renewed tensions between the U.S. and Iran. The fresh conflict has led oil prices to rise and revived inflation concerns, raising the possibility of the BOE increasing interest rates in 2026. Investors price in a 96% chance of a BOE rate hike in December following the new tensions, up from an 80% chance priced in last week, LSEG data show. (miriam.mukuru@wsj.com)

0752 GMT - Global investors resume pricing in the possibility of high inflation as the U.S. and Iran resume attacks. "Markets do not need a full regional war to reprice risk; they only need enough uncertainty around energy flows to lift crude, and steepen inflation expectations," Tickmill Group's Patrick Munnelly says in a note. Brent crude price rises 2.3% to last trade at $75.9. Yields on 10-year U.S. Treasurys, German Bunds and U.K. gilts rise to 4-week highs, Tradeweb data show. (miriam.mukuru@wsj.com)

0735 GMT - European natural-gas prices climb above 48 euros a megawatt-hour as the latest escalation between the U.S. and Iran heightens concerns over fuel supplies ahead of Europe's heating season. In early trading, the benchmark Dutch TTF contract rises 2.9% to 48.12 euros a megawatt-hour, up more than 10% on the week. "The European gas market continues to look tight as we move through the injection season," Ewa Manthey and Warren Patterson from ING say. Storage across the European Union is currently 50% full, well below the five-year average of 66%. Meanwhile, Europe's LNG imports have declined as Asian buyers have increasingly turned to the spot market amid supply disruptions in the Persian Gulf, ING analysts say. (giulia.petroni@wsj.com)

0725 GMT - Oil prices jump 3% after the U.S. and Iran exchanged strikes and Washington reimposed sanctions on Tehran's crude sales, threatening an already fragile truce. In early European trading, Brent rises 3% to $76.40 a barrel, while WTI futures are up 2.9% to $72.50 a barrel. The attacks, which mark the most significant escalation since the U.S. and Iran signed an interim deal on June 17, came after the Islamic Revolutionary Guard Corps fired missiles and drones at ships near the Strait of Hormuz on Tuesday. "Re-escalation in the Persian Gulf has reignited supply concerns," analysts at ING say. "The curve structure also strengthened, with the front end returning to backwardation after recently flipping into contango amid the ramp-up of Persian Gulf supply." Backwardation occurs when futures with near-term deliveries are marketed at a premium over longer-dated contracts. (giulia.petroni@wsj.com)

0723 GMT - London's miners fall in morning trade as oil prices move higher after the U.S. and Iran exchanged fire in an escalation that could threaten peace talks. All European indexes were down at the open. Higher oil prices could fuel inflation fears and lead to higher interest rates globally. Precious metal miner Hochschild Mining drops 3.2% while peer Fresnillo slides 2% and Endeavour Mining drops 1.4%. Diversified miners Anglo American and Rio Tinto fall around 1.7%.(adam.whittaker@wsj.com)

0722 GMT - Yields on U.K. 10-year gilts climb to their highest level since June 11 after renewed U.S.-Iran strikes caused oil prices to rise and revived inflation concerns. The U.S. struck sites along Iran's coast and blocked its ability to sell oil legally on Tuesday in response to Tehran's recent attacks on ships near the Strait of Hormuz. Ten-year gilt yields climb 8 basis points to 4.909%, a four week high, Tradeweb data show. (miriam.mukuru@wsj.com)

0718 GMT - European indexes all fall in early European trade as higher oil prices revive inflation concerns on the continent. Banks and energy-intensive industries slide as the Europe-wide Stoxx 600 drops 0.7%. Germany's DAX is down 1.1%. Deutsche Bank drops 2.5%, while autos in the index falter with Mercedes-Benz group down 2.2%. In Paris, the CAC 40 is 0.8% lower with Renault 2.4% lower while bank Societe Generale slides 2.3%. Losses for London's FTSE 100--down 0.8%--are cushioned by gains for oil majors BP and Shell, as miners lead the index's fallers. Banks drag on Spain's IBEX 35 and the Italian FTSE MIB, which slip 1% and 0.6%, respectively. Dutch AEX edges down 0.1% as ASML nudges up 0.3% after dropping sharply in the last session.(josephmichael.stonor@wsj.com)

0716 GMT - European energy stocks open higher after the U.S. and Iran exchanged fire in an escalation that could threaten peace talks. The U.S. also blocked Iran's ability to sell oil legally on Tuesday in response to recent attacks on ships near the Strait of Hormuz. This pushes Brent crude futures up 3.1% to $76.48 a barrel while WTI is up 2% to $71.09 a barrel. In London, BP rises 2.3% and Shell is up 1.3%. Spain's Repsol rises 3.7%, aided by a strong second-quarter trading update. Italy's Eni is 2.8% higher and France's TotalEnergies is up 1.5%. Norway's Equinor opens 2.9% higher.(adam.whittaker@wsj.com)

0711 GMT - Bitcoin edges lower as renewed worries about an artificial intelligence bubble and the U.S.-Iran conflict weigh on risk sentiment. Chip giant Samsung Electronics' strong earnings failed to meet lofty expectations, dragging sector peers lower and prompting investors to flee AI investments. The U.S. struck sites along Iran's coast and blocked its ability to sell oil legally Tuesday in response to Tehran's recent attacks on ships near the Strait of Hormuz, WSJ reports. "We do not think that the recent developments will break the ceasefire, but they do highlight the fragile nature of the truce," Jefferies economist Mohit Kumar says in a note. Bitcoin drops 1.8% to $62,514, LSEG data show.(renae.dyer@wsj.com)

0709 GMT - Spanish energy major Repsol's second-quarter trading update shows strength across its downstream unit, RBC Capital Markets analyst Biraj Borkhataria writes. Its upstream numbers are slightly below expectations while downstream indicators appear stronger, he adds. Repsol's results could come in around 10% higher than current consensus expectations, he writes. Shares rise 4.1% to 22.92 euros. (adam.whittaker@wsj.com)

0706 GMT - Eurozone government bond yields rise in opening trade, with the 10-year Bund yield hitting a four-week high of 3.032%, according to LSEG data. Rising eurozone bond yields follow their U.S. peers, with the 10-year Treasury yield also hitting a four-week high of 4.565% in Asian trade. Yields rise as the U.S.-Iran ceasefire came under renewed pressure, causing oil prices to move higher. The renewed military escalation "serves as a reminder of the fragility of the talks as well as underscores how deep the water between the parties still is," analysts at KBC Bank say in a note. (emese.bartha@wsj.com)

0705 GMT - The dollar trades steady ahead of the release of the Federal Reserve's meeting minutes for June at 1800 GMT. Kevin Warsh's first meeting as Fed Chair had prompted markets to price in more interest rate rises due to his commitment to price stability and projections signalling a chance of tightening. However, Warsh explicitly avoided policy guidance so it seems unlikely he would permit such guidance via the minutes, Standard Chartered's Steve Englander says in a note. "Avoiding any discussion of rate hikes may come to be seen by the market as a reluctance to move." The DXY dollar index trades flat at 101.017, having briefly reached a near one-week high of 101.215 overnight on safe-haven flows due to increased U.S.-Iran tensions and tech-stock selling. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

July 08, 2026 04:18 ET (08:18 GMT)

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