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

1137 GMT - The cost of insuring euro-denominated credit against default stays steady at lower levels amid progress toward a U.S.-Iran peace deal that could result in the reopening of the Strait of Hormuz. Nevertheless, President Trump said in a Truth Social post on Sunday that he was in no hurry to agree to a deal and that both sides "must take their time and get it right." The iTraxx Europe Crossover index, which tracks euro high-yield credit default swaps, trades at 274bps, having fallen by six basis points to that level on Friday, S&P Global Market Intelligence data show. The iTraxx Europe Main index, which tracks euro investment-grade CDS, is steady at 55 basis points. (jessica.fleetham@wsj.com)

1100 GMT - The euro, sterling and perceived riskier currencies such as the Australian dollar all rise versus a weaker U.S. dollar amid prospects of a U.S.-Iran peace deal, which could lead to the reopening of the Strait of Hormuz. Oil prices fall while risk appetite picks up. The dollar falls due to its safe-haven qualities and because it often mirrors moves in oil prices as the U.S. is a net oil exporter. The euro rises 0.3% to a six-day high of $1.1649, LSEG data show. Sterling rises 0.5% to an 11-day high of $1.3496, while the Australian dollar gains 0.6% to $0.7166. Among emerging-market currencies, the South African rand and Mexican peso both gain versus the U.S. dollar. (jessica.fleetham@wsj.com)

0937 GMT - The oil market is reacting positively to signs that the U.S. and Iran are moving closer to an agreement, though analysts caution that no deal alone would restore normal conditions in the global system. Traders are anticipating that roughly 100 million barrels of crude currently stranded on tankers near the Strait of Hormuz could begin flowing again relatively quickly, temporarily flooding the prompt physical market and easing near-term supply fears, according to Sparta Commodities. However, "fundamentally there is no change to the underlying picture" says June Goh, senior analyst at the firm. Even if the Strait were to reopen immediately, restoring full production and logistics networks would still likely take three to six months, meaning global markets would continue drawing down inventories until Middle Eastern crude output is fully back online. (giulia.petroni@wsj.com)

0933 GMT - India raising import taxes on gold will not curb local demand, Charles Gave of Gavekal Research writes in a note. The move has eroded the value of the rupee against gold, he notes, adding that this will instead encourage locals to buy more gold as savings. The government needs to mobilize India's gold, but "people who have long saved in gold will never abandon gold unless they are paid richly to do so," Gave adds. Gold-linked bonds may support government funding better through principal and interest payments, while maintaining gold levels, Gave says. (kimberley.kao@wsj.com)

0855 GMT - European energy stocks fall in morning trade as oil prices slip on optimism that the U.S. and Iran could reach a deal that opens the Strait of Hormuz. Nevertheless, President Trump said in a Truth Social post on Sunday that he was in no hurry to agree to a deal. "Both sides must take their time and get it right," he said. Brent crude falls 4.7% to $95.52 a barrel, while WTI futures are down 4.9% to $91.86 a barrel. This pushes Spain's Repsol 2.25% lower and Italy's Eni down 1.9%. France's TotalEnergies is 1.7% down. Norway's Equinor slips 1.4%. U.K. markets are closed. (adam.whittaker@wsj.com)

0807 GMT - Mitsubishi Electric's new medium-term business strategy will likely include opportunities from data centers for public utility, factory automation, air-conditioning and optical device businesses, among other things, Jefferies analysts say in a note. The Japanese company is expected to unveil its plans later this week. The company's stock is up 43% year to date, driven in part by expectations for future overseas defense projects. Yet, markets have yet to fully incorporate the magnitude of profit growth in its infrastructure-related projects and its factory automation business, the analysts say. Jefferies maintains a buy rating on the stock and raises its target price to 7,700 yen from Y6,800. Shares closed 4.1% higher Monday at Y6,560. (kosaku.narioka@wsj.com; @kosakunarioka)

0800 GMT - Expectations for the European Central Bank to raise interest rates look overdone after recent data point to a fragile eurozone economy, analysts at Natixis say in a note. "Current ECB pricing remains aggressive relative to the likely deterioration in the Eurozone growth outlook," they say. Last week's provisional eurozone purchasing managers' data for May were unexpectedly weak as high oil prices dented consumer and business sentiment. Eurozone money markets price an 80% chance of a 25 basis-point ECB rate increase in June and fully price in two increases by the end of the year, LSEG data show. (jessica.fleetham@wsj.com)

0731 GMT - Bitcoin rises due to prospects of a deal between the U.S. and Iran that could potentially lead to the crucial Strait of Hormuz being reopened. This boosts risk appetite and helps crypto assets. However, bitcoin's gains are small and it remains well below the key $80,000 level, keeping within its recent trading range. Uncertainty remains over Iran. President Trump said Sunday he was in no rush to complete a deal and that both sides had to "take their time and get it right." Investors are also cautious due to recent outflows from bitcoin exchange-traded funds, analysts at Saxo say in a note. Bitcoin rises 0.8% to $77,210, LSEG data show. (jessica.fleetham@wsj.com)

0722 GMT - Singapore shares in oil-sensitive sectors such as real estate and aviation could rebound in the near term if the U.S. and Iran reach a deal soon to reopen the Strait of Hormuz, DBS Group Research says in a commentary. Its analysts' base case is for an agreement to be reached by June, which should result in Brent oil prices dropping below $90 a barrel. Further signs that the key energy shipping lane is reopening could boost property developers, real-estate investment trusts and aviation-related companies. Meanwhile, DBS recommends buying bank or technology shares during price pullbacks. Lenders are resilient in an inflationary environment without a recession, while artificial-intelligence demand should underpin tech stocks, they say. Front-month Brent crude-oil futures fall 3.9% to $99.47 a barrel. (megan.cheah@wsj.com)

0651 GMT - Gold prices rise on a weaker dollar and optimism that a potential breakthrough in U.S.-Iran peace negotiations could improve the inflation outlook. In early European trading, futures in New York are up 0.8% to $4,558 a troy ounce, while the U.S. dollar index slips 0.2% to 99.01, making dollar-denominated commodities cheaper for overseas buyers. Hopes for a deal that could reopen the Strait of Hormuz also pushed crude oil prices sharply lower, with Brent falling more than 5%. The drop has eased concerns that higher energy costs could reignite inflation and pressure the global economy. Still, gains in gold might remain limited. U.S. consumer confidence weakened sharply in May, while expectations that the Federal Reserve could raise interest rates continue to pressure non-yielding assets. (giulia.petroni@wsj.com)

0648 GMT - The dollar falls to a one-week low against a basket of currencies as oil prices drop on prospects of a deal between the U.S. and Iran. A U.S. official said over the weekend that an agreement in principle could lead to the crucial Strait of Hormuz being reopened. However, uncertainty remains. President Trump said Sunday that he was in no rush to complete a deal with Iran and that both sides had to "take their time and get it right." The DXY dollar index falls 0.2% to a low of 98.951. (jessica.fleetham@wsj.com)

0647 GMT - Taiwan's Taiex ended 3.3% higher at 43644.40, supported by semiconductor-related stocks. Nvidia's strong earnings last week further boosted market sentiment, sending shares across its supply chain higher. "Both domestic and foreign institutional buying amid continued earnings upgrades" have been supporting Taiwan stocks, Goldman Sachs analysts said in a note. Meanwhile, Nvidia CEO Jensen Huang arrived in Taipei over the weekend ahead of Nvidia GTC and Computex 2026. Shares of TSMC, the world's largest contract chip maker, rose 2.4%, Foxconn Technology gained 4.4% and MediaTek surged 10%. Delta Electronics, which specializes in data-center power management, jumped 9.3%. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

May 25, 2026 07:38 ET (11:38 GMT)

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