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

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)

0738 GMT - European oil companies are rising in early trade on higher oil prices after weekend tit-for-tat strikes between the U.S. and Iran. Confusion over whether the Strait of Hormuz is open also boosted prices. The U.S. said the Strait--which carries around a fifth of the world's oil--was open, while Tehran said it was closed. Brent crude is up 3.6% to $78.76 a barrel, while WTI futures rise 3.6% to $73.99 a barrel. In London, shares of BP and Shell are up 2.4% and 1.4%, respectively, while France's TotalEnergies shares are up 2%. Eni shares are up 2.5%, while Equinor shares are 2.7% higher. (ian.walker@wsj.com)

0733 GMT - Gold futures slide more than 1% after fresh strikes between the U.S. and Iran sent oil prices higher, reviving concerns about inflation and prospects of tighter monetary policy. In early trading, New York gold was down 1.2% at $4,066.10 a troy ounce. The latest escalation, which is renewing concerns over the future of the Strait of Hormuz and supply tightness in the third quarter, pushed U.S. Treasury yields and the dollar higher, adding further pressure on non-yielding precious metals. Investors are now awaiting upcoming U.S. inflation data and Federal Reserve Chair Kevin Warsh's congressional testimony for fresh clues on the outlook for interest rates. (giulia.petroni@wsj.com)

0728 GMT - Yangzijiang Shipbuilding's 1H earnings likely grew 8%-10%, buoyed by higher prices and capacity, says DBS Group Research's Pei Hwa Ho in a note. Progressive revenue recognition from its record order book and partial contribution from a new yard should also drive the Singapore-listed shipbuilder's earnings growth, the analyst says. Higher-priced contracts flowing through could boost its margins, she says. The company's stock has corrected around 20% from its March high, which brings its valuations back to attractive levels, she adds. Its dividend yield of around 6%-7% also remains compelling. DBS reiterates its buy rating and 4.55 Singapore dollar target price. Shares fall 1.7% to S$3.55. (megan.cheah@wsj.com)

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)

(END) Dow Jones Newswires

July 13, 2026 05:08 ET (09:08 GMT)

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