The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

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)

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)

0433 GMT - B.Grimm Power is likely a post-Iran conflict stock play, ttb wealth securities' Nuttapop Prasitsuksant says in a research report. A faster-than-expected decline in oil prices is expected to boost the profitability of the industrial energy producer's core small-power-producer business, the analyst says. The Thailand company's EPS should grow 120% in 2027, 8% in 2028, and 38% in 2029, driven by a recovery in the spark margin on the SPP business' electricity sales to industrial users due to falling energy prices. The brokerage raises the stock's target price to 20.00 baht from 14.00 baht, with an unchanged buy rating. Shares are 6.1% higher at 19.20 baht. (ronnie.harui@wsj.com)

2102 GMT - The U.S. revocation of Iran's authorization to sell oil sends crude prices to a near two-week high. "That's a big take-back by the Trump administration," says John Kilduff of Again Capital. The waiver contributed to the selloff in oil and the idea that the market would become oversupplied. "It had suddenly freed up a lot of Iranian barrels that were on the water and Iran moved out a lot of supply over the last couple of weeks to try to take advantage of that." The Trump administration was relishing lower oil prices, and now it could go back off the rails, Kilduff adds. "We'll see if they don't go back on this after some more discussions." WTI rises 5.3%, to $72.21 a barrel, and Brent gains 5.4%, to $75.88. (anthony.harrup@wsj.com)

1934 GMT - Oil futures are sharply higher as the U.S. revokes Iran's license to sell oil in response to Iranian attacks on ships in the Strait of Hormuz. The lifting of sanctions on Iranian oil was part of an agreement reached last month that reopened the strait as the two sides negotiate a peace deal. The resumption in tanker transit through the strait had pushed oil prices back toward pre-conflict levels. WTI is up 5.3% at $72.20 a barrel and Brent rises 5.6% to $75.99. (anthony.harrup@wsj.com)

Oil futures rise as Iran attacks vessels on the U.S.-backed Omani side of Strait of Hormuz, raising concerns about Iran's efforts to assert control over the waterway. If peace negotiations falter or another disruption hits before inventories recover, markets could quickly find themselves under pressure again, Ellen Fraser, an energy analyst at consulting firm Baringa says in a note. There's political and economic pressure for oil flows to continue, she says. "Iran needs a huge amount of money to rebuild the country, and that money will come through oil flows. And President Trump needs those flows to resume given the upcoming midterms and the political capital that it's costing him in the U.S." WTI settles up 2.8% at $70.44 a barrel and Brent gains 3% to $74.16. (anthony.harrup@wsj.com)

The drop in crude oil prices should lower average U.S. retail gasoline prices to $3.80 a gallon in 3Q from $4.20 in 2Q, the EIA says in its latest outlook. But in the near term, "we expect the crude oil-driven decrease in gasoline prices will be partly offset by rising wholesale and retail margins as low gasoline inventories keep gasoline crack spreads elevated," the EIA says. As inventories rebuild and the summer driving season ends, however, refiner margins will narrow pushing gasoline down to $3.40 a gallon in 4Q, according to the forecast. The agency expects gasoline consumption in the second half of this year to remain below the five-year average as a result of higher prices and economic conditions. For 2027, the EIA projects gasoline prices to average $3.09 a gallon. (anthony.harrup@wsj.com)

1803 GMT - The share of Canada's U.S.-bound exports is trending lower. Scotiabank's Mitch Villeneuve and John Fanjoy note the proportion averaged 76% in 2024 and 72% in 2025, and came in at 70% in May 2026. The shift has been driven by a decline in most exports to the U.S. and increasing shipments to other regions, especially Europe. Canadian exports heading to the U.S. in May rose 1.5% on-month and were up 9.3% compared with 2024, following three straight months of growth driven by higher oil prices, Villeneuve and Fanjoy say. Exports to non-U.S. countries dropped 0.3% on-month, but were up 49.5% from 2024. On the import side, the share of Canadian imports from the U.S. has gradually fallen to 58% in May from an average of 62% in 2024, the pair say. (robb.stewart@wsj.com; @RobbMStewart)

1521 GMT - Canadian trade flows continue to be shaped by the uncertainty surrounding U.S. trade policy, though the broader expectation remains that trade will become less of a drag on Canadian growth than it was in 2025 as the international environment gradually stabilizes, Royal Bank of Canada's Abbey Xu and Nathan Janzen say. The country's goods-trade surplus widened to about C$4.2 billion in May from the prior month's revised C$3.4 billion, as exports rose 0.9% and imports fell 0.2%. The economists say export volumes excluding price effects fell 0.5% for the month but are still tracking a large increase in the second quarter as a whole. Import volumes edged lower as well, albeit mainly thanks to a pullback in gold imports, Xu and Janzen say. (robb.stewart@wsj.com; @RobbMStewart)

1425 GMT - A further widening of Canada's goods-trade surplus to a four-year high isn't as good as it first looks, since exports in volume terms were essentially unchanged, says Capital Economics' Ariane Curtis. She believes the only positive is that the rise in import volumes for May suggests domestic demand is gradually improving. Curtis adds the trade data look to be consistent with the flash estimate of a modest 0.1% on-month rise in GDP for May. (robb.stewart@wsj.com; @RobbMStewart)

1420 GMT - Canada has clearly snapped out of its two-quarter GDP funk with net trade roaring back to life, in part due to higher oil prices, says Robert Kavcic, economist at BMO Capital Markets. Based on Statistics Canada's trade report for May, exports rose 0.9%--and a solid 26% from a year ago. Energy sales account for the bulk of the increase, Kavcic says. Volumes were weak in May, but nevertheless Kavcic estimates net trade will "add meaningfully" to 2Q growth, of up to 2.0 percentage points. (paul.vieira@wsj.com; @paulvieira)

(END) Dow Jones Newswires

July 08, 2026 04:20 ET (08:20 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.