The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
1232 ET - Escalated hostilities while the U.S. and Iran attempt to hammer out a peace deal is one factor pressuring CBOT grain futures. Markets are also watching the status of agricultural trade agreements with China. While the White House did announce a new wave of buying agreed to by China, which state news sources there did confirm to some degree, the question of "when" remains for Chinese purchasing. China did lift HPAI-related export controls on poultry coming from 17 U.S. states, which is a good sign for continued cooperation between the two nations, says Jim Wiesemeyer of Ag Bull Trading in a note. Most-active corn is down 1%, soybeans slide 0.5%, and wheat falls 1.4%. (kirk.maltais@wsj.com)
1221 ET - Oil futures extend gains with Brent back at $100 as U.S. and Iranian military exchanges add tension to talks toward a peace agreement. Prices fell sharply Monday, when the U.S. and other markets were closed, on expectations that a deal was close. "Markets really want this conflict to be over with and for the Strait of Hormuz to be open," says Tracy Shuchart, senior economist at NinjaTrader Group. "It looks like the impasse is not going to change any time soon," she says, and even if an agreement were reached tomorrow "that doesn't mean that flows automatically return tomorrow." WTI is off 2.8% from Friday's close at $93.91 a barrel but above yesterday's levels. Brent is up 4.1% at $100.11 a barrel. (anthony.harrup@wsj.com)
1215 ET - The noise emerging from the oil-rich province of Alberta about a possibly separating from Canada poses yet another near-term headwind for the economy and the Canadian dollar, says Karl Schamotta, chief market strategist at global payments firm Corpay. Alberta is holding an Oct. 19 vote, asking residents whether they want to stay in Canada or begin the process of holding a binding referendum on sovereignty. Schamotta says the Alberta separation debate risks pulling policymakers' attention from more pressing economic concerns, namely low levels of investment and hiring due to trade-policy uncertainty; and a real-estate slump that's weighing on household borrowing and consumption. (paul.vieira@wsj.com; @paulvieira)
1055 ET - Issuance of new euro green bonds has increased sharply after a temporary dip in March at the start of the U.S.-Iran conflict, Societe Generale's Juan Valencia says in a note. Euro green bonds' supply rose in April and continues to rise in May, supported by strong investor demand for the assets, he says. "Since mid-April, green issuance volumes have nearly doubled, rising from 42 billion euros ($48.9 billion) to 72.65 billion euros." (miriam.mukuru@wsj.com)
1020 ET - BP's board needs to give a full account of exactly why Chairman Albert Manifold was dismissed, ACCR's oil and gas strategy lead, Nick Mazan, writes. ACCR is an activist investor that tabled a resolution at BP's AGM that called on management to explain how its strategy of spending big on oil-and-gas production would deliver value for shareholders. Just over a quarter of investors supported it. Manifold was not a popular chair given that 18% of shareholders voted against his election, Mazan says. BP needs to reflect on how it conducts its searches for new chairs, he says. Shares fall 4% to 529.20 pence. (adam.whittaker@wsj.com)
1011 ET - The removal of BP Chair Albert Manifold is unlikely to have any major impact on the business given his short tenure on the board, Quilter Cheviot analyst Maurizio Carulli writes. He says the board will need to focus on professional skills and personal characteristics in the search for a new chair. Manifold was removed from the board over serious concerns about governance and conduct, BP said. Shares are down 4.4% at 527 pence. (ian.walker@wsj.com)
0958 ET - The removal of BP Chair Albert Manifold raises concerns over the company's HR policies and corporate culture, XTB research director Kathleen Brooks writes. Manifold was removed by the board over serious concerns about governance and conduct, BP said. "There was no detail as to what these breaches were, or when they occurred, and it leaves investors wondering how they weren't unearthed during the hiring process," Brooks says. She notes that Manifold is the second major executive to be replaced for conduct reasons in three years. Brooks adds that Manifold's removal could threaten or delay the company's transition. Shares are down 4.6% at 526 pence. (ian.walker@wsj.com)
0953 ET - Serious questions need to be asked about the BP board's decision-making process after Chairman Albert Manifold stepped down due to serious corporate governance issues, Barclays analyst Lydia Rainforth writes. While the reasons for his dismissal aren't clear, his appointment appears to be another misstep by the board, she says. The sheer number of personnel changes at the energy company should raise questions, she says. Shares trade down 4.4% at 5.27 pounds, having fallen more than 9% earlier. (adam.whittaker@wsj.com)
0943 ET - While reasons for BP Chairman Albert Manifold's removal are unclear right now, anything related to finances would likely have been noted in the release, RBC Capital Markets analyst Biraj Borkhataria writes. Manifold was seen as an "agent of change" and it is reasonable the oil major's shares have dropped on his removal, Borkhataria adds. If share underperformance continues, and assuming there are no financial impacts related to his removal, BP shares would likely become more attractive to potential buyers, he adds. Shares trade down 4.8% at 524.3 pence having fallen more than 9% earlier. (adam.whittaker@wsj.com)
0908 ET - U.S. natural gas futures are modestly higher as the market reopens after the long weekend in which forecasts relinquished some cooling demand for early June. National demand remains light through the first week of June "as much of the U.S. experiences perfect temperatures with highs of 60s-80s," NatGasWeather.com says in a note. Hotter weather across the interior U.S. for mid and late June "would be more impressive if Texas was hotter," the forecaster adds. The Nymex June contract, which expires tomorrow, is up 1.2% at $2.943/mmBtu.(anthony.harrup@wsj.com)
0902 ET - Global markets remain caught between optimism around AI-driven equities and concerns over inflation, oil volatility and higher-for-longer interest rates, BNY's Bob Savage says in a note. The head of markets macro says that bond and FX markets are reacting sharply to shifts in central bank rhetoric. "Central banks are increasingly balancing inflation risks from higher energy prices against slowing global growth," he says. The European Central Bank and the Bank of Japan are leaning more "hawkish"--meaning they are more inclined to raise interest rates--while China moves further toward monetary easing, he says. (emese.bartha@wsj.com)
0854 ET - Oil futures are recovering some of yesterday's steep losses after U.S. strikes against Iranian boats and missile launchers. Iran threatens retaliation, although talks continue. "We see oil prices regaining upward momentum despite some traffic continuing through the Strait of Hormuz, carrying millions of barrels of oil to their destinations, as the battle of words surrounding a potential peace deal continues to push back prospects for an imminent resolution to the war," Peter Cardillo of Spartan Capital says in a note. Brent is up 3.1% at $99.07 a barrel and WTI trades at $92.89, down 3.9% from Friday's close but above yesterday's levels. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
May 26, 2026 12:32 ET (16:32 GMT)
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