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

0944 ET - Oil futures are higher after an Iranian attack on ships trying to cross the Strait of Hormuz on the Omani side, a sign of Iran's determination to control the waterway. "Although the oil market's response to the headlines has been muted and limited to the crude markets, this event is highlighting a continued major difference between the U.S. and Iran as to who controls the strait," Ritterbusch & Associates says in a note. Crude futures are holding just above their pre-war levels as oil shipments continue through the strait. WTI is up 1% at $69.25 a barrel and Brent rises 1.1% to $72.80.(anthony.harrup@wsj.com)

0937 ET - Treasurys sell off, sending yields higher, as oil prices tick up following Iran's attack on ships near Hormuz. The U.S. trade deficit widens in May, to $77.6 billion from April's revised $54.6 billion. In a week relatively light on economic indicators, markets await Fed minutes tomorrow. The WSJ Dollar Index is flat, as the greenback weakens slightly against the Japanese yen. The 10-year yield is at 4.495%, up from yesterday's settle of 4.479%. The two-year rises to 4.139% from 4.124%. (paulo.trevisani@wsj.com; @ptrevisani)

0922 ET - New York Fed President John Williams reiterates his view that monetary policy is well positioned to achieve the Fed's dual mandate goals in an interview on Fox Business. Regarding the labor market, he says he sees stable, solid growth. While acknowledging inflation is still too high, he says "I do feel a little bit more positive about the near-term inflation outlook because of the energy price declines that we're going to see."(jessica.coacci@wsj.com)

0727 ET - Shell's better-than-expected integrated gas production guidance triggers a sense of relief among investors, AJ Bell's Dan Coatsworth writes. The second-quarter update is only a teaser designed to guide the market, he adds. Shell lifted its output estimate slightly to between 610,000 and 650,000 barrels of oil-equivalent a day due to strong production at assets outside of the Middle East. It had previously guided for 580,000 to 640,000 BOE a day. The unit produced 909,000 BOE a day in the first quarter. Shares rise 2.5% to 2,985.50 pence. (adam.whittaker@wsj.com)

0624 ET - Bitcoin's recent rebound could prove limited and temporary, ING technical analyst Roelof-Jan van den Akker says in a note. The cryptocurrency rose to a two-week high of $64,539 overnight, rebounding from the 21-month month low of $57,775 reached July 1, according to LSEG. It last trades down 0.8% at $63,329. Bitcoin's appreciation potential looks capped around the important resistance zone between the horizontal barrier at $65,670 and the flat exponential moving average-200 line, currently at $68,603, he says. ING expects a resumption of bitcoin's previous downtrend with a break below the July 1 low in the near-term and towards $47,705. "Investors should also be mindful of the implications of a weekly close below the crucial horizontal support level at $54,450," he says. (renae.dyer@wsj.com)

0620 ET - U.S. Treasury yields rise and the dollar edges up amid fresh tensions in the Middle East and higher oil prices. "Renewed tensions in the Strait of Hormuz, with a ship being attacked, sent oil prices higher and kept traders on watch for further developments," Empire FX's Crispus Nyaga says in a note. A re-escalation in tensions could support the dollar through safe-haven demand and raise concerns over inflationary pressure from higher energy costs, the analyst says. Meanwhile, the Federal Reserve's minutes of the June meeting, due Wednesday, could shape near-term expectations for both currency and bond markets, Nyaga says. The 10-year Treasury yield rises 1.4 basis points to 4.492%, according to Tradeweb. The DXY dollar index rises 0.1% to 100.971. (emese.bartha@wsj.com)

0537 ET - German industrial data point to broad-based strength in the first two months of the second quarter, despite the jump in energy prices due to the Iran war, Pantheon Macroeconomics' Claus Vistesen says in a note. Industrial production climbed 0.9% on month in May, after a 0.2% increase in April. That puts German manufacturing on track for a decent second quarter, and signals upside risk to GDP growth, he says. Survey data has softened in recent months, with the manufacturing PMI and the IFO recent production index subdued in May and June. "But we still think that production rose over the second quarter as a whole," Vistesen says. (edward.frankl@wsj.com)

0532 ET - Shell's second-quarter trading statement shows strong operational performance, which helps mitigate some of the impact of the Middle East conflict, JPMorgan's Matthew Lofting writes. The update will likely drive an upward revision to consensus expectations, he adds. The absence of 'loss-making' commentary around its chemicals unit will be welcomed while working capital inflows will help deleverage the balance sheet, he adds. Shares rise 2.8% to 2,994 pence.(adam.whittaker@wsj.com)

0419 ET - London's miners fall in morning trade. Gold prices decline for a second day as attacks against two commercial ships near the Strait of Hormuz push oil prices higher and revive inflation concerns, MUFG's Soojin Kim writes. Higher interest rates typically hurt non-yielding assets like silver and gold. In New York, gold futures fall 0.7% to $4,139.40 a troy ounce while silver falls 1.7% to $61.26 an ounce. Precious metal miner Hochschild Mining drops 3% while peers Fresnillo and Endeavour Mining fall 2.2% and 1.5%, respectively. Diversified miner Anglo American slides 2.1%. (adam.whittaker@wsj.com)

0412 ET - Despite surging energy prices from the Middle East conflict, German industrial production is proving resilient, ING's Carsten Brzeski says in a note. Industrial output rose 0.9% on month in May, from 0.2% in April. Some sectors seem to have benefited from the war, as Asian competitors were hit harder by the closure of the Strait of Hormuz, Brzeski says. Automotive production rose 3.6% on month, the data shows. The opening of the Strait, as well as easing geopolitical tensions, should help the German economy and move past recession fears, he says. "However, it won't be a huge boost but rather a mild tailwind. Despite some improvement, production expectations in industry remain weak, and order books are only very gradually filling up again." (edward.frankl@wsj.com)

0407 ET - Gold prices fall as Iranian attacks against two commercial ships near the Strait of Hormuz revive concerns over inflation. "Overall, bullion remains rangebound as it attempts to shift from capitulation to consolidation, supported by softer U.S. data and a less hostile dollar and yield backdrop," analysts at Saxo Bank say. "However, with short-dated U.S. yields still signaling a risk of a rate hike later this year, a further easing in rate expectations is needed to support a more durable recovery." In early European trading, New York gold futures are down 0.7% at $4,138.50 a troy ounce. Traders now await the release of minutes from the Federal Reserve's June meeting for further guidance on the policy outlook. (giulia.petroni@wsj.com)

0402 ET - Oil prices rise more than 1.5% as Iranian attacks on commercial vessels near the Strait of Hormuz highlight persistent security risks despite diplomatic efforts. In early European trade, Brent crude rises 1.6% to $73.10 a barrel, while WTI futures are up 1.5% to $69.60 a barrel after settling at prewar levels in the previous session. Still, analysts say the upside is likely to remain limited. "Saudi Arabia has cut its August official selling prices, OPEC+ continues to unwind production cuts, Gulf exports are recovering, and the physical market remains well supplied," says Soojin Kim from MUFG. (giulia.petroni@wsj.com)

(END) Dow Jones Newswires

July 07, 2026 09:44 ET (13:44 GMT)

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