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.

1047 ET - Canadian energy stocks are among the few gainers on the TSX after President Trump said he believed his ceasefire deal with Iran was over and that the U.S. would likely carry out more strikes soon. The news sent the price of crude oil surging over renewed supply concerns. In lock-step, Athabasca Oil, Strathcona Resources, Cenovus Energy and International Petroleum were among the top gainers, up 5%, 3.3%, 4%, and 2.5%, respectively. Most other sectors were trading lower. (adriano.marchese@wsj.com)

0852 ET - Oil futures are higher after the U.S. and Iran renew strikes and the U.S. cancels the sanctions waiver for Iranian oil sales, while President Trump says he thinks the ceasefire is over. "The latest military exchanges raise the risk that talks will either stall or continue under much more fragile conditions," Rystad Energy's head of geopolitical analysis Jorge Leon says in a note. The move higher in oil prices shows sensitivity to any escalation around the Strait of Hormuz, he says. "Even if no sustained physical disruption materializes, uncertainty around vessel safety, insurance costs, potential delays, and the risk of further retaliation is likely to keep volatility elevated in the near term." WTI is up 4.1% at $73.34 a barrel and Brent is 4.2% higher at $77.26 a barrel. (anthony.harrup@wsj.com)

0609 ET - Spanish energy major Repsol could increase its full-year share buyback if refining margins remain strong, Berenberg analysts write following the company's trading update. Repsol's update shows that margin strength continues into the third quarter, they say. Market watchers already expect Repsol to increase its buyback to around 1.1 billion euros from an initial guidance of 700 million euros, the analysts write. Confirmation of an increase alongside its quarterly results would be positive, they say. Shares are up 3.8% at 22.86 euros. (adam.whittaker@wsj.com)

0505 ET - European energy stocks rise as oil gains on President Trump's comments that the ceasefire deal with Iran is over. Brent crude rises 4.7% to $78.42 a barrel, while WTI futures are up 5.9% to $74.61 a barrel after climbing more than 6% shortly before. In London, BP rises 3.45%, while Shell is up 1.6%. France's TotalEnergies is up 3%, Spain's Repsol rises 4%, and Italy's Eni gains 3.7%. Norway's Equinor rises 4%.(adam.whittaker@wsj.com)

0318 ET - 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)

0316 ET - 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)

0309 ET - 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)

0033 ET - 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)

1702 ET - 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)

1534 ET - 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)

(END) Dow Jones Newswires

July 08, 2026 12:20 ET (16:20 GMT)

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