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

1126 GMT - The U.K. government is likely to provide temporary support to households to protect them against the energy price shock following the Middle East war, Deutsche Bank's Sanjay Raja says in a note. However, given high uncertainty around the economic outlook, Treasury Chief Rachel Reeves will need to balance fiscal support with some fiscal prudence, Raja says. (miriam.mukuru@wsj.com)

1049 GMT - France can use nuclear power to run data centers essential for power-hungry new technologies such as artificial intelligence, President Emmanuel Macron says at a summit in Paris. Macron says that this means that nuclear energy gives France more independence and protects the country from global shocks, and that it can meet the needs of data centers essential for artificial intelligence. "We will not be able to meet our decarbonization targets and carbon neutrality in 2050 and create jobs without having this energy source," he says. (edith.hancock@wsj.com)

1034 GMT - Repsol's strategy update is an evolution of its current proven plan, Jefferies analysts Mark Wilson, Kai Ye Loh and Sasikanth Chilukuru write. The updated plan through 2028 is encouraging and sees shareholder returns rising, they write. The Spanish energy company is planning lower-than-expected capital expenditure, they write. Shares fall 1.8% to 20.59 euros.(adam.whittaker@wsj.com)

1032 GMT - Current rallies in equities and bonds on hopes of an end to the Middle East war should be viewed as a relief rally, not a return to normal trading, analysts at First Abu Dhabi Bank say in a note. "This is no time for complacency, and the Gulf region has seen missile and drone threats again over the past 24 hours," the UAE-based bank's analysts say. The latest moves "should certainly not be interpreted as indicating a comprehensive shift back toward a full risk-on bias." Sentiment improved after U.S. President Trump signaled a potential near-term end to the Iran war. Nonetheless, after Monday's severe volatility, "we understand why markets are proving quick to grab hold of any optimism in the short-term." (emese.bartha@wsj.com)

1026 GMT - Air Canada's margins are likely going to be affected by the rising cost of fuel, says Scotiabank analyst Konark Gupta, who downgrades the stock rating to sector perform from sector outperform. The pressure could be significant. "The recent surge in fuel price... could negatively impact margins and maintain pressure on the stock at least in the short term," the analyst says in a report. Depending on the trajectory of oil, which yesterday surged passed $100 a barrel before settling down to below $90, "there is potential for management to reduce or even suspend guidance." What's more, Gupta says "there could be potential demand destruction on top of cost headwinds." Scotiabank lowers the price target on the stock to C$21 from C$27. (adriano.marchese@wsj.com)

1008 GMT - Palm oil ended sharply lower as rival oil prices weakened after U.S. President Trump suggested the conflict in Iran could be nearing an end, reducing risk premiums across the oil complex, Kenanga Futures analysts say in a note. The profit-taking prospects after the recent rally may also curb buying interest, they add. Kenanga Futures sees support for the May futures contract at 4,340 ringgit a ton and resistance at 4,600 ringgit, respectively. The Bursa Malaysia Derivatives contract for May delivery fell 139 ringgit to 4,428 ringgit a ton. (jason.chau@wsj.com)

1008 GMT - It is still not immediately clear what the ultimate objectives for the U.S. and Israel are in the Middle East, Janus Henderson Investors' Oliver Blackbourn and Adam Hetts say in a note. "Various intentions have been publicly stated but it is not clear which of these are red lines and which are just preferences," the asset managers say. A further reduction of the potential for Iran to build nuclear weapons appears to be the closest to a requisite, but given that strikes in 2025 were deemed to have achieved this, defining the outcome is difficult, they say. A desire to destroy Iran's long-range missile program has been expressed, they say. It also remains unclear how a regime change can be achieved with airstrikes alone. (emese.bartha@wsj.com)

1002 GMT - The Bank of England could cut interest rates in the coming months, lowering the bank rate to 3.0% by the end of 2026, Berenberg's Andrew Wishart says in a note. The BOE is expected to leave rates unchanged at 3.75% at its March 19 decision due to higher oil and gas prices since the start of the Middle East war. These higher prices have reignited inflation concerns, promoting investors to scale back U.K. rate-cut expectations. However, the U.K.'s weak jobs market, decelerating wage growth and higher energy costs will hamper consumer spending and likely contain inflation, Wishart says. Sustained high energy prices could delay rate cuts but are unlikely to put an end to them, he says. (miriam.mukuru@wsj.com)

0924 GMT - The disruption to the international oil and gas markets is less likely to be prolonged, IBOSS chief economist Rupert Thompson says in a note. "Our base case remains that the bulk of the disruption to the energy markets should last for no more than a few weeks," he says. The global economy is also in good shape and likely to withstand the energy-price shock seen in recent days due to the Middle East war, Thompson says. "We do not expect the surge in energy prices to derail the global economic recovery." (miriam.mukuru@wsj.com)

0918 GMT - The dollar's declines after President Trump said the Iran war could end soon are likely to be limited, ING's Chris Turner says in a note. What matters most is a reopening of the Strait of Hormuz and restart of oil production across the Middle East, he says. "Until investors receive headlines on that score, presumably relating to some kind of ceasefire, we doubt the dollar is going to quickly hand back all the gains made over the last two weeks." It seems too early to expect the DXY dollar index to fall significantly back under 98.000 for now, he says. The DXY falls to a one-week low of 98.492. (renae.dyer@wsj.com)

0912 GMT - European airline stocks are making gains after the price of oil dropped to the low $90s a barrel. Wizz Air jumps 7.7%, followed by Deutsche Lufthansa which gains 6.7%. Air France-KLM is up 5.9%, while International Consolidated Airlines Group--which houses Iberia and British Airways--advances 5.2%. Ryanair, easyJet and Jet2 are up 3.9%, 3.5% and 2.3%, respectively. The oil-price spike might offer an advantage to the European flag carriers which are hedged on fuel, unlike U.S. airlines which are unhedged and have to raise prices to offset higher costs, J.P. Morgan says. However, a long Iran war and sustained higher oil prices will have a negative impact for the whole sector due to lower consumer spending power and reduced economic growth, they say. (cristina.gallardo@wsj.com)

0910 GMT - Grab's financial operation is likely to see limited impact from short-term increases in fuel prices driven by the Middle East conflict, Citi Research's Alicia Yap says in a note. Grab's existing driver fee protection in Singapore and fuel-discount partnerships with providers in Singapore, Malaysia and Indonesia will absorb the fluctuating prices, the analyst says. Grab will also likely refrain from raising fares and may adjust its driver incentive support to attract and retain drivers, Yap adds. "Unless the situation in the Middle East significantly worsens or prolongs, we believe margin impact to Grab's mobility business is likely to be manageable and should already be reflected in the company's existing guidance," Yap adds. Yap reiterates a buy rating with a target price of $7.20. Shares closed at $3.96 overnight. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

March 10, 2026 07:26 ET (11:26 GMT)

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